HKMA introduces ‘major' piece of financial infrastructure to facilitate China flows
New service will underpin mutual recognition of funds initiative
The Hong Kong Monetary Authority (HKMA) today (July 9) introduced a crucial piece of financial infrastructure in support of the Mainland-Hong Kong Mutual Recognition of Funds (MRF) initiative enacted this month.
The initiative allows eligible and approved Chinese and Hong Kong-based funds to access retail investors in each other's markets, with a current investment quota of 300 billion renminbi for "in and out fund flows each way".
It was announced by China's Securities Regulatory Commission and
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