Cross-border RMB scheme: good or bad for HK?
Lawyers say the revolutionary mutual-recognition funds platform with mainland China will not necessarily bestow the status of Asian asset management hub the city so craves.
One question on the lips of fund managers in Hong Kong and elsewhere is whether the proposed cross-border funds initiative with mainland China will enhance or damage the city’s ambition to become Asia’s key asset management hub.
Under plans disclosed in January by Alexa Lam, deputy CEO of the Securities and Futures Commission (SFC), authorised funds domiciled in Hong Kong and their mainland equivalents will be mutually recognised and sold directly in each other’s market for the fi…
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