HSBC Expands Offshore Investment Options for HNWIs in China
(3 June 2020 – China) HSBC has announced a partnership with China International Fund Management, a joint venture of JPMorgan Asset Management, to distribute asset management plans investing in Qualified Domestic Limited Partnership (QDLP) to its high net worth clients in China.
The QDLP scheme, launched by China’s State Administration of Foreign Exchange in 2013, allows qualified foreign asset managers to raise renminbi-denominated sums from qualified individual and institutional investors in China, for overseas investments within allocated quotas. China has so far granted a total of $5 billion in quotas.
QDLP can direct Chinese domestic investors’ funds to overseas markets and allow investments in alternative assets, including hedge funds, private equity funds, and real estate investment trusts (REITs).
“This new scheme will help clients diversify their investments and leverage overseas opportunities to mitigate risks in their overall portfolio and further grow their wealth, especially amid uncertainty in the global markets,” said HSBC China Executive Vice President and Head of Wealth and Personal Banking, Richard Li.
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