Hong Kong seeks recognition of its funds on the mainland

The Hong Kong government is working with the mainland securities regulator to seek mutual recognition of fund products sold in both markets to boost the local asset management industry.

Secretary for Financial Services and the Treasury Chan Ka-keung said yesterday that he gave the proposal to the China Securities Regulatory Commission during his visit to Beijing late last month.

Chan said no details or timing had been set but the CSRC was keen to study the project.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1092455/hong-kong-seeks-recognition-its-funds-mainland