VanEck Australia granted China RQFII license
VanEck Australia has been granted a Renminbi Qualified Foreign Institutional Investor (RQFII) license by the China Securities Regulatory Commission (CSRC).
Following this, and as a part of the Australian RQFII program, the company was also awarded a quota by China’s State Administration of Foreign Exchange (SAFE) to invest in the mainland’s domestic bond and equity securities.
VanEck Australia’s managing director, Arian Neiron, said: “VanEck is honoured to be only the second Australian asset manager to be granted an RQFII license, giving us the ability to invest directly in the China domestic securities market and give our clients access to broad exposure to the Chinese economy”.
“China A-shares represent the largest and most liquid shares listed on mainland China’s two main stock exchanges, Shanghai and Shenzhen, yet they are under-represented in most institutional portfolios.
“But as foreign investment restrictions have been lifted, select foreign institutions, now including VanEck, are being authorised to invest directly in these key growth markets,” he said.
Neiron also said the company was assessing new opportunities to apply the firm’s quota in expanding its exchange traded fund (ETF) offerings.
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