China banks look to Hong Kong for growth
(19 February 2007 – China) China is discussing the possibility of allowing its commercial banks to tap into yuan derivatives and equity funds traded in Hong Kong to enable them to gain better returns.
China Banking Regulatory Commission said banks in mainland China could buy yuan derivatives in Hong Kong as part of the qualified domestic institutional investor (QDII) program.
The banks have a kitty of US$13.4 billion in quotas which they can invest outside the mainland.
The regulator said expanding the scope of the QDII program would help mainland banks get better returns on their overseas investments and provide investors with wealth management options.
The banks have a kitty of US$13.4 billion in quotas which they can invest outside the mainland.
The regulator said expanding the scope of the QDII program would help mainland banks get better returns on their overseas investments and provide investors with wealth management options.
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