Friday December 18 2015
News Source: Global Exchanges
Focus: Other
Type: General
Country: Hong Kong
Link: http://www.info.gov.hk/gia/general/201512/18/P201512180511.htm
On 18th December 2015, the Hong Kong Special Administrative Region Government (HKSAR) announced the first batch of authorised funds under the mutual recognition of funds arrangement between the Mainland and Hong Kong by the Hong Kong Securities and Futures Commission and the China Securities Regulatory Commission.
Starting July 1, 2015, regulators from both sides have started accepting applications under the mutual recognition of funds arrangement between the Mainland and Hong Kong. According to the arrangement, qualified Mainland and Hong Kong funds may be offered directly to the public in each other`s market after obtaining authorisation or approval under streamlined procedures.
The mutual recognition of funds arrangement further deepens the mutual access between the Mainland and Hong Kong capital markets. For Hong Kong in particular, this arrangement will not only expand the distribution network for Hong Kong`s fund industry, but also attract more funds to domicile in Hong Kong.
Click on the link above for further details.