ING geared to enter Chinese markets
(China) - Dutch banking giant ING will plough US$100 million into China’s domestic stock markets if given the go-ahead from the Chinese Securities Regulatory Commission.
The opportunity arose due to China’s Qualified Foreign Institutional Investor (QFII) scheme, launched last year, which will allow foreign investors to enter China’s stock and bond markets.
UBS AG and Japan’s Nomura Securities have already been admitted into China’s domestic market, while others such as Deutsche Bank, Morgan Stanley and Goldman Sachs are awaiting permits.
The QFII scheme allows foreign investment banks to act as brokers for foreigners looking to invest in Chinese companies. It will also allow them to enter China’s hitherto off-limits US$500 million A-share market.
With the Chinese Government loosening its vice-like grip on markets, the country’s growing capital size and market maturity, China is proving to be increasingly attractive to foreign investors.
The Chinese Government appointed HSBC, Standard Chartered and Citibank among other ‘custodian banks’ to oversee the QFII scheme.
UBS AG and Japan’s Nomura Securities have already been admitted into China’s domestic market, while others such as Deutsche Bank, Morgan Stanley and Goldman Sachs are awaiting permits.
The QFII scheme allows foreign investment banks to act as brokers for foreigners looking to invest in Chinese companies. It will also allow them to enter China’s hitherto off-limits US$500 million A-share market.
With the Chinese Government loosening its vice-like grip on markets, the country’s growing capital size and market maturity, China is proving to be increasingly attractive to foreign investors.
The Chinese Government appointed HSBC, Standard Chartered and Citibank among other ‘custodian banks’ to oversee the QFII scheme.
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