Hong Kong-France mutual recognition deal welcomed
But it may be some time before China inks its own cross-border funds agreement with another country.
Market participants have hailed a new memorandum of understanding (MoU) between France and Hong Kong on mutual recognition of funds as cementing closer ties between Europe and the Chinese territory. But the big prize – an MRF agreement with China – is seen to be some way off.
Hong Kong’s Securities and Futures Commission (SFC) and the Autorité des Marchés Financiers (AMF) announced the deal yesterday. It will allow eligible Hong Kong public funds and French Ucits funds to be sold …
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