Julia Leung of Hong Kong's securities regulator hopes funds will be approved under the mutual recognition scheme this year, as asset managers and distributors work on their plans.
Tobias Bland, the firm’s CEO, sees no reason why it can’t list its Chimerica ETF on the mainland bourse, but takes a fresh swipe at the fund approvals process in Hong Kong.
After wild price swings on Shanghai Composite, the industry voices hope that Stock Connect and mutual recognition can bring much-needed diversification and broaden investor holdings.
Industry figures rubbish rumours that Beijing has agreed a mutual recognition scheme with London to rival HK’s own pending deal. It would be impractical and hurt HK-China interests.
The first products must be quality and meet investor expectations, while clarity is needed on how long’s Hong Kong’s sole partner status will be exclusive, the Asian Financial Forum hears.
The SFC’s Alexa Lam and CSRC’s Xu Hao discuss the timing of the HK-China passport scheme, indicating the launch will follow the RQFII model and could be imminent.