Fund managers eye renminbi opportunities in Hong Kong
Harvest, HSBC and RCM are among those fund managers keen to develop renminbi products traded in Hong Kong, but many details still need clarification.
Asset managers are keen to develop equity and fixed-income products to take advantage of liberalised rules regarding renminbi accounts in Hong Kong, but many questions remain.
The People's Bank of China (PBoC) and the Hong Kong Monetary Authority signed an agreement on July 19 to expand an existing trade-settlement scheme in renminbi, to further develop Hong Kong as a centre for the internationalisation of the currency.
According to the agreement, there will no longer be restrictions …
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