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China To Gain Access To More US Stocks And ETFs
February 05, 2008
by Tom Lydon
Chinese investors are soon to be getting more access to U.S. stocks and exchange traded funds (ETFs).
James T. Areddy for the Wall Street Journal says that the Securities and Exchange Commission (SEC) will sign a memorandum of understanding with the China Banking Regulatory Commission within the next few days.
What this means is that Chinese banks can now create U.S. stock funds for clients. Chinese fund companies are already able to sell products that invest in U.S. markets, but banks are not free to roll out their own stock funds. Bank branches are the key platform for selling financial products in the country.
Treasury secretary Henry Paulson is rumored to have put pressure on China to relax its capital controls in an effort to allow investment abroad.
February 05, 2008
by Tom Lydon
Chinese investors are soon to be getting more access to U.S. stocks and exchange traded funds (ETFs).
James T. Areddy for the Wall Street Journal says that the Securities and Exchange Commission (SEC) will sign a memorandum of understanding with the China Banking Regulatory Commission within the next few days.
What this means is that Chinese banks can now create U.S. stock funds for clients. Chinese fund companies are already able to sell products that invest in U.S. markets, but banks are not free to roll out their own stock funds. Bank branches are the key platform for selling financial products in the country.
Treasury secretary Henry Paulson is rumored to have put pressure on China to relax its capital controls in an effort to allow investment abroad.
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