everbright’s asset management arm receives rqfii licence
business related 12 nov 2013
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china everbright limited is delighted to announce that its subsidiary, china everbright asset management limited, was awarded a renminbi qualified foreign institutional investor (rqfii) licence by the china securities regulatory commission (csrc) on 30 october, 2013. licence applicants have to meet stringent standards with the csrc assessing asset scale, previous records and past compliance with regulatory ordinances and rules. winning the licence clearly demonstrates csrc’s recognition of everbright’s strength in the market.
the licence approval marks another major milestone for everbright’s cross-border business, following the allocation of qfii and qflp quotas and the launch of a number of qdii products. by enabling investors to grasp opportunities arising from china’s capital inflows and outflows, the licence will also help to expand the company’s overseas institutional investor account base and strengthen its cross-border asset management business. this enhanced business and diversified product portfolio will boost the everbright’s overall competitive strength.
rqfiis are a major channel for offshore renminbi to flow back to china. a qualified institution can invest renminbi that was raised offshore directly into china’s equity or debt markets through either public or private placements. this mechanism allows overseas investors to share the superior returns of chinese fund managers and will help to accelerate the internationalisation of the renminbi.
the licence approval marks another major milestone for everbright’s cross-border business, following the allocation of qfii and qflp quotas and the launch of a number of qdii products. by enabling investors to grasp opportunities arising from china’s capital inflows and outflows, the licence will also help to expand the company’s overseas institutional investor account base and strengthen its cross-border asset management business. this enhanced business and diversified product portfolio will boost the everbright’s overall competitive strength.
rqfiis are a major channel for offshore renminbi to flow back to china. a qualified institution can invest renminbi that was raised offshore directly into china’s equity or debt markets through either public or private placements. this mechanism allows overseas investors to share the superior returns of chinese fund managers and will help to accelerate the internationalisation of the renminbi.
