First overseas RMB fund to be released Aug. 11

来源：百度文库 编辑：神马文学网 时间：2024/05/03 06:07:03

First overseas RMB fund to be released Aug. 11

15:08, August 09, 2010      

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The first overseas RMB-raised fund, the "Haitong Global RMB Fund" is expected to go on sale in Hong Kong on Aug. 11, stirring market expectations of the gradual release of the two-way cross-border flow of the RMB.

The first overseas RMB-raised fund, the "Haitong Global RMB Fund" was officially approved by the Hong Kong Securities and Futures Commission to go on sale to Hong Kong retail investors on Aug. 6. Fund issuer Haitong Asset Management Company of Hong Kong revealed later that the official issue date is expected to be Aug. 11.

The fund has an issue scale of 5 billion yuan and is denominated and quoted in RMB. The fund will be invested in overseas RMB fixed-income products denominated in RMB through overseas and domestic channels. In the future, depending on the approval conditions of the "Mini QFII," the fund will be invested in domestic RMB-denominated bonds and some other debt instruments under the approval of regulators.

Yao Gang, deputy president of China Securities Regulatory Commission, and Li Chao, deputy director of the State Administration of Foreign Exchange, recently revealed that they have been studying a plan for "Chinese-funded financial institutions to issue RMB-funds in Hong Kong and invest in the A-share market," which is also called the "Mini QFII" plan, and recently became the focus of attention in the market.

Along with increased expectations of RMB returns, there has been growing conjecture inside the Hong Kong securities industry that regulators will gradually allow Chinese mainland investors to invest in the Hong Kong share market.

By People's Daily Online
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