But it may be some time before China inks its own cross-border funds agreement with another country.
The Hong Kong watchdog's investment products head pointed to the imbalance of fund flows under the mutual recognition scheme. She also commented on the SFC's fee-disclosure proposals.
Fund executives put the territory well ahead of mainland Chinese cities and Singapore in this regard, despite certain reservations, finds a survey by BBH due for release today.
Industry participants are questioning the motivation behind and benefits of Hong Kong's new agreement with Switzerland on mutual recognition of funds.
August sales of Hong Kong funds under the mutual recognition scheme exceeded the total volume in the first seven months of the year. JP Morgan Asset Management accounts for the lion's share.
It would make little sense for China to accept Ucits funds or to merge with other Asian passport schemes, says Sean Tuffy, head of regulatory intelligence at custody bank BBH.