China Dashboard – October 2019

  • Bank wealth management, QFII, regulator, RQFII, WFOE
This Dashboard will examine key developments onshore from the month of September, including: Full foreign ownership dates set Regulator removes R/QFII quotas Securities regulator’s 12 capital market priorities Timeline confirmed for SOE asset-transfers Rules drafted for bank wealth management net capital Aside from these key takeaways, we will also provide a quick analytical update on […]
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(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) QFII reforms: Major step towards harmonization

  • QFII
·SAFE’s changes to QFII will redefine the cross-border space ·The base quota has a cap of USD5bn ·MSCI’s A-share inclusion decision could now occur in 2016 Update: SAFE has initiated major changes to China’s inbound investment environment via the QFII program. The most far-reaching being the introduction of a quota registration system based on each […]
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(China Alert) China strategies and quota diverge

  • QFII, RQFII
·Mega RQFII quotas are now a real option for China access ·The largest asset managers are set for increased competition ·Firms are readjusting exposure between QFII and RQFII Update: Recent market volatility in China has led to differing R/QFII access strategies among global investors. On the one side, there are an increasing number of managers […]
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(China Alert) RQFII: License to fulfill

  • QFII, RQFII
·Korea and Singapore’s RQFII quota increases occurred for different reasons ·Global RQFII hubs are fulfilling different roles and niches ·Hong Kong’s RQFII cap is not detrimental to its role as the key RMB hub Update: The RQFII program continues to fire with Korea and Singapore both receiving aggregate quota top-ups in November. Both increases occurred […]
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(China Alert) China RMB fixed income: USD7tr to be tapped

  • Fixed Income, QFII, RQFII
·IBB license approval continues to grow for foreign managers ·A mismatch between investor demand and manager supply exists ·This mismatch is set to grow significantly for the foreseeable future Update: China’s RMB45tr (USD7tr) fixed income market is continuing to steam ahead. Licenses to the interbank bond market (IBB), which makes up over 90% of the […]
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(China Alert) Cross-border: Mega R/QFII quotas expected

  • QFII, RQFII
·More firms are being granted larger R/QFII quotas and IBB licenses ·Top-line cross-border access will increase and quota will be notional ·Global managers will have more freedom and optionality Update:  Z-Ben Advisors has observed that firm-level access to the China market is being granted in a greater magnitude. We believe this shows that regulators are focusing […]
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(China Alert) CSRC to impose new A-share circuit breaker

  • cross border, CSRC, QFII, RQFII
·CSRC issued a draft proposing daily suspension limits for CSI 300 ·30 min suspension for a 5% up or down move, full-day closure for 7% ·This would have far-reaching impacts on the cross-border landscape Update:  CSRC issued draft regulations last night stipulating new daily suspension and closure limits for the A-share market. If the CSI 300 […]
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China Alert

China Alert

  • Distribution, FTZ, Insurers, Mutual Fund Companies, Mutual Recognition, Pension Sector, Private Fund Managers, QDII, QDLP, QFII, RQFII, Stock Connect, SWFs, Trusts, WFOE
  The periodic China Alert responds rapidly to China’s almost daily shifts in regulation, demand, access, competition and opportunity which impact global managers’ China business. These actionable bulletins keep our clients up-to-date, allowing them to adjust tactics accordingly to capture maximum China upside. Please contact [email protected] for more information.
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China Dashboard

China Dashboard

  • Banks, Brokerage Sector, Insurers, Mutual Fund Companies, Private Fund Managers, QDIE, QDII, QDLP, QFII, RQFII, Stock Connect, WFOE
The monthly China Dashboard encompasses a snapshot overview of all sectors of the asset management space onshore (mutual funds, private funds, cross-border investment, institutions, banks, brokerages and more), while providing targeted commentary on capital markets and regulatory sentiment. This report identifies and highlights the key developments affecting all market participants and their product/service providers. Please […]
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