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Screenshot of a breaking news alert e-mail from Q2 2017
JPMorgan Asset Management (Singapore) today announced it has received its Renminbi Qualified Foreign Institutional Investor (RQFII) license from the China Securities Regulatory Commission.
It would now apply to the State Administration of Foreign Exchange for an RQFII investment quota, in order to extend its range of renminbi product offerings to its clients, the press release stated.
JPMorgan Asset Management (Singapore) CEO Steven Biliet said the license – issued to allow global institutions to invest in the Chinese capital market – will help the unit meet the growing demand of investors for Chinese bonds, stocks and money-market instruments.
“Although we expect downward pressure on the Chinese economy from the slowing property market and the corporate de-leveraging, we see domestic consumption and exports to a recovering US economy, supporting top line growth and China enjoying renewed investor interest,” Mr Billiet said.
JPMorgan Asset Management (JPMAM) in Hong Kong received a 1 billion renminbi investment quota from SAFE under the RQFII scheme in January last year.
To download the official press release, click here (PDF).