A More Global Yuan (4)

Toward internationalization

Other good news from the CSRC is that the commission, in cooperation with Hong Kong financial authorities, is studying mutual recognition of cross-border funds.

This policy will allow fund products recognized by supervising authorities from the mainland and Hong Kong to be listed on each other's market without further recognition. Similar policies have been carried out for years in EU countries.

If this policy is adopted, fund products from the mainland can be sold in Hong Kong and vice versa. The renminbi will become the leading currency in the capital markets of both places.

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