Source: Xinhuanet
06-01-2007 16:58
Special Report: HK 10 YearsThe widening of the investment scope for the Chinese mainland commercial banks' overseas wealth management on behalf of their clients (QDII) will create a win-win situation for Hong Kong and the nation, a Hong Kong financial official said on Thursday.
In his monthly article posted on the bureau's website, Hong Kong Secretary for Financial Services and the Treasury Frederick Ma said the new measures will expand the channel for investing the Chinese mainland capital overseas, helping facilitate the outflow of capital from the mainland in an orderly manner, and will help stabilize its stock market.
The China Insurance Regulatory Commission is making statutory regulations in connection with the Consultation Document on Measures for the Administration of Overseas Investment of Insurance Funds issued earlier for comments.
He said these measures, if implemented, will provide an additional investment channel for the huge liquid capital on the Chinese mainland to seek stable returns.
He added the measures will offer the financial sector enormous business opportunities and help promote cooperation and development of Hong Kong and the mainland, further consolidating the city's position as an international finance and asset-management center.
Editor:Li Yang
