Arab Today, arab today foreign fund managers eye growth in china
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Foreign fund managers eye growth in China

Arab Today, arab today

Arab Today, arab today Foreign fund managers eye growth in China

Hong Kong - Yonhap

Foreign fund management firms in China expect sharp future growth thanks to the country's recent move to open up more channels for managing funds, a survey showed Monday. Thirty foreign fund management companies, including UBS SDIC, HSBC Jintrust and Morgan Stanley Huaxin, said they expect to see an average growth of 60 percent in their assets under management by 2014, global consulting firm PricewaterhouseCoopers (PwC) said. PwC said it conducted a poll between April and June 2011 by interviewing chief executive officers and senior executives of the 30 firms. "(Chinese Vice Premier) Li Keqiang's recent announcement of the launch of the RQFII (Renminbi Qualified Foreign Institutional Investors) program has had everybody excited," Keith Lie, PwC's Asset Management Partner for Hong Kong, said in a press conference. Renminbi is the official name of the Chinese currency yuan. During his visit to Hong Kong earlier this month, the Chinese vice premier said Beijing would soon allow foreign investors to buy mainland securities using yuan up to an initial quota of 20 billion yuan (US$3.1 billion). It is seen as a move aimed at giving foreign investors holding the yuan an avenue to invest, thus promoting the currency's international use. Currently, investors in the offshore yuan market in Hong Kong can only put their holdings into yuan deposits or yuan-denominated bonds that yield relatively lower returns. The gradual internationalization of the yuan will give optimism to the foreign fund management firms, making them "want to stick it out for now," PwC explained. In 2010, the foreign firms held a 47 percent market share with 1.18 trillion yuan in assets under management, compared to a 53 percent market share held by domestic players with 1.32 trillion yuan.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today foreign fund managers eye growth in china Arab Today, arab today foreign fund managers eye growth in china

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today foreign fund managers eye growth in china Arab Today, arab today foreign fund managers eye growth in china

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday