While seen as an important step, Friday's announcement of a free-trade zone in Shanghai lacks clarity, particularly around interest-rate liberalisation, agree industry participants.
A pilot securities borrowing scheme has met a lukewarm response despite the establishment of a central counterparty. Complexity in posting assets as collateral is seen as unhelpful.
The $340 billion pension fund has set itself a long-term goal of opening offices in Hong Kong and Shanghai. However, for now it is focused on stabilising its other overseas bases.
Under new pilot measures, foreign institutional investors will explicitly be allowed to raise RMB private equity funds through a fund management company based in Shanghai.
The private-equity firm signs agreements with the governments in Shanghai and Chongqing to set up two renminbi-denominated funds of Rmb5 billion each to invest in Chinese companies.
Straight talk from the Big Apple: Morgan Stanley's global prime-broking heads sit down with AsianInvestor at the firm's hedge-fund conference in Shanghai to discuss where the industry is headed.