RBC Asia chief: China-HK fund recognition “ad hoc” compared with Europe
Hong Kong and mainland China have announced a plan for mutual recognition of their funds, but patience will be required, writes Andrew Gordon, head of investor services, Hong Kong and North Asia, RBC Investor & Treasury Services
The Hong Kong Securities and Futures Commission (SFC) and China Securities Regulatory Commission (CSRC) are finalising the scope for a mutual fund recognition initiative to allow cross-border fund sales. The proposed mutual recognition fund regime would permit SFC-authorised funds domiciled and operating in Hong Kong to be sold directly in mainland China and for qualified mainland funds to be sold in Hong Kong. In both cases there would be no need for additional local regulatory approval.
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