Hong Kong’s Securities and Futures Commission said on Aug. 18 that it welcomed a new policy signal from the National Financial Regulatory Administration supporting mainland insurance funds’ participation in financial market connectivity between the mainland and Hong Kong. The arrangement includes support for mainland insurance institutions to invest in Hong Kong exchange-traded funds through the Shanghai-Shenzhen-Hong Kong Stock Connect mechanism.
According to the SFC, the policy adds to the options available to mainland insurers seeking overseas asset allocation through Hong Kong and reflects continued support for deeper financial market connectivity between the two sides. SFC Chairman Dr. Timothy Lui said the regulator appreciated the long-standing backing from the financial regulator for Hong Kong’s capital markets and cross-border market links, adding that the new measure broadens offshore allocation channels for mainland insurance capital and supports closer capital market coordination between the mainland and Hong Kong.
Hong Kong’s Securities and Futures Commission said on Aug. 18 that it welcomed the National Financial Regulatory Administration’s announcement earlier that day to actively support mainland insurance funds’ participation in financial market connectivity between the mainland and Hong Kong, including support for mainland insurance institutions to invest in Hong Kong exchange-traded funds through the Shanghai-Shenzhen-Hong Kong Stock Connect.
The SFC said the policy would broaden the range of options for mainland insurance institutions to allocate overseas assets through Hong Kong. It also said the move reflects the regulator’s support for continued efforts to deepen financial connectivity between the mainland and Hong Kong.
SFC Chairman Dr. Timothy Lui said: "We sincerely thank the National Financial Regulatory Administration for its firm support over a long period for the development of Hong Kong’s capital market and for financial connectivity between the mainland and Hong Kong. This new policy opens more diversified offshore asset allocation channels for mainland insurance funds, demonstrates the country’s determination to deepen high-level financial opening, and also reflects the central authorities’ support for continued financial cooperation between the two places. We firmly believe the arrangement will further promote coordinated development of the two capital markets."
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