Latest News:  
Beijing   Cloudy/Overcast    23 / 13   City Forecast

People's Daily Online>>China Business

New yuan ETFs get licensed

(Global Times)

08:12, April 20, 2012

Chinese regulators have started licensing domestic funds to create new yuan-denominated exchange-traded funds (ETFs) for sale in Hong Kong, hoping to get fresh investors to use the yuan accumulated offshore to invest in Chinese mainland markets.

Within two weeks of announcing a 50 billion yuan ($7.9 billion) increase in the quotas for the Renminbi Qualified Institutional Investor (RQFII) program, China's market regulator has already issued licenses for the Hong Kong subsidiaries of some domestic fund management companies to create new funds, according to sources and media reports.

The speed with which the central government is ramping up approval of fresh quotas shows its determination to stimulate interest among overseas investors.

The initial batch of funds on offer, which were limited largely to buying Chinese bonds, have faced challenges attracting demand in Hong Kong.

"We know that the fundraising has been mediocre," said Winnie Deng, an analyst at Z-Ben Advisors covering the offshore yuan fund market.

Email|Print|Comments(Editor:厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Cherry blossom festival in Chengdu

  2. Beauty of Fujian Tulou

  3. Wedding Banquet in Hainan lick your chops

  4. Temple ruins of Yungang Grottoes edges into new archaeological discoveries of 2011

Most Popular

Opinions

  1. Criminal case is not political struggle
  2. Bo's probe praised for its transparency, resolution
  3. Keeping reins on easing vital for China's economy
  4. Bo investigation warns officials of power abuse
  5. Restart Six-Party Talks
  6. Most Americans see benefits of close U.S.-China ties
  7. Reform will not impair public institutions: ministries
  8. Blasts spell bleak future for Afghan stability
  9. Security cooperation is SCO's shining point
  10. Syria ceasefire is not negotiable

What's happening in China

First TCM medicine OK'd for EU market

  1. Ex-Olympic champion under fire for second child
  2. Coca-Cola cleared of contamination in China
  3. Chinese fishermen detained in Palau arrive home
  4. China detains 9 more in drug capsule scandal
  5. Harbin ban on big dogs stirs up howls of protest

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai