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Hong Kong and Mainland China to Partly Open Markets for Investment Funds

By Tony Seruga

HONG KONG — Six months after a groundbreaking link between their stock markets took effect, Hong Kong and mainland China announced on Friday that they would partly open their respective markets for investment funds.

In a joint announcement after markets closed on Friday, the China Securities Regulatory Commission and Hong Kong’s Securities and Futures Commission said a trial program to allow funds registered in one jurisdiction to be marketed to individual investors in the other would begin on July 1.

The initial quota for the so-called mutual recognition of funds program will be capped at a relatively modest 300 billion renminbi, or around $50 billion, for flows in each direction. But it marks a significant development, giving international asset managers their most direct access yet to mainland investors…

Hong Kong and Mainland China to Partly Open Markets for Investment Funds

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