False alarm over China-HK mutual recognition plans
Speculation about the imminent arrival of the cross-border funds scheme between Hong Kong and the mainland appears off the mark.
Industry sources have dampened speculation that the eagerly anticipated cross-border mutual fund recognition scheme between Hong Kong and mainland China is set to be introduced any time soon.
An official from the China Securities Regulatory Commission (CSRC) noted during a question-and-answer media session held on the mainland on Friday that it had reached a consensus with Hong Kong’s Securities and Futures Commission (SFC) in terms of policy direction. No time-frame was given.
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