(China Alert) RMB access upgraded

  • QFII, rmb, RQFII
-PBoC, SAFE and CSRC released details on changes to inbound access -Harmonization across QFII and RQFII is closer than ever -Flexibility will significantly impact competitive dynamics Update: China’s inbound investment programs are moving toward a shared open architecture. Over the weekend, PBoC, SAFE and CSRC held a joint training event to give foreign participants some […]
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(China Alert) Make a name for yourself (!)

  • AMAC, Copycat, Name
-Chinese firms are imitating global firms’ names and brands -Copycat scandals and bankruptcies onshore could harm brand image -Managers should take action to defend their names Update: Z-Ben Advisors has long advocated the importance of company branding and active marketing when entering and engaging with the Chinese market. This Alert further highlights one particular, and […]
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(China Alert) Chinese pensions: Roadmap to NCSSF assets

  • pensions
-New guidelines make more Chinese pension assets more accessible -Onshore NCSSF assets will soon be able to be invested overseas -Asset managers are already making moves to win NCSSF mandates Update: The first and most important step in giving offshore asset managers a larger slice of National Social Security Fund (NSSF) pension funds has just […]
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(China Alert) MRF***ED

  • MRF
MRF fundraising so far has been worse than lackluster Z-Ben Advisors’ experience shopping for MRF funds suggests some reasons why Outsourcing distribution is, so far, a big negative for sales and customer service Update: Z-Ben Advisors has been shopping for MRF funds and, we have to say, it wasn’t easy. These funds were hard to […]
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(China Alert) Aligning interest: ESOPs and corporate actions

FMC restructuring should accelerate in 2016 China Universal’s ESOP is indicative of more to follow Foreign shareholders may need a Plan B for their JVs Update: Volatile market conditions are forcing the fund management industry to reevaluate the way FMC shareholders and management align interests. Last December’s approval of China Universal’s ESOP is a perfect […]
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(China Alert) China asset management: The rest of the iceberg

  • Asset Management
Assets under third-party management grew 56% in 2015 Trends indicate growing investment sophistication Foreign ownership reforms will make a larger portion of this accessible to global managers Update: Defining asset management in China can feel like trying to nail jello to the wall. Many products and services do not fall under the traditional remit of […]
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(China Alert) RMB credit: Prototype for greater access

  • rmb
Major players are preparing to access RMB credit as SAFE starts to make clarifications Managers and service providers will all be actively looking to benefit Future inbound access reform could be built around these IBB changes Update: PBoC significantly liberalized access to the interbank bond (IBB) market two weeks ago and Z-Ben Advisors has already […]
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(China Alert) China lifts the gate on RMB credit

  • credit market, IBB
– PBoC has widened access to the onshore interbank credit market – All global institutional investors are now eligible, free of quota – How these institutions compete is the only remaining question Update: Last night, PBoC announced changes to onshore China Interbank bond (IBB) market access and effectively threw the previous access rulebook out the […]
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(China Alert) Chexit: The short road home

  • A-share
·US-listed Chinese companies are looking to list on the Mainland ·The range of offshore listed companies is due to shrink significantly ·Direct access to China’s equity markets will be a necessity for managers Update: Z-Ben Advisors has observed that recent changes in the US equity market highlight the importance of China’s inbound access programs. US-listed […]
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(China Alert) Regulatory reform to impact WFOEs

  • AMAC, WFOE
·New AMAC regulations place restrictions on business scope ·The majority of foreign firms now cannot manage retail capital ·Reforms are building a framework for a more mature fund industry Update: The positional value of the investment management (IM) WFOE has been reinforced by recent regulatory adjustments by the Asset Management Association of China (AMAC). New […]
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