HKMA's Chan praises cross-border funds initiative as liberalisation milestone
Initiative will provide Chinese and Hong Kong funds access to each other's markets
Hong Kong Monetary Authority (HKMA) chief executive Norman Chan has praised a new initiative to further integrate Hong Kong's and China's capital markets as a "milestone" of Chinese financial liberalisation.
China's Securities Regulatory Commission (CSRC) and Hong Kong's Securities and Futures Commission (SFC) announced the mainland-Hong Kong Mutual Recognition of Funds (MRF) initiative on Friday (May 22).
The MRF will allow eligible and approved Chinese and Hong Kong-based funds access to
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