【英语中国】汇丰获取中国RQFII牌照

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所属分类:双语中国

2013-7-29 07:36

小艾摘要: HSBC has received approval from mainland Chinese regulators to invest renminbi onshore, the latest step in opening up China’s financial markets to overseas funds.The bank’s asset management arm yest ...
HSBC has received approval from mainland Chinese regulators to invest renminbi onshore, the latest step in opening up China’s financial markets to overseas funds.

The bank’s asset management arm yesterday said that it had obtained a licence under China’s renminbi qualified institutional investor (RQFII) scheme, which will enable it to put renminbi into the country’s equity and bond markets.

The RQFII quota system was first established in 2011, to complement the better-known qualified foreign institutional investor (QFII) scheme. Under QFII, investors bring US dollars onshore, which they switch into renminbi to make investments.

RQFII licence holders can invest renminbi held offshore into China’s domestic markets. The licence is one tool for encouraging the use of the Chinese currency for international trade.

Previously, the RQFII scheme had been limited to offshore subsidiaries of mainland asset managers and brokerages. At the end of last month, only 22 licences had been granted.

But in March this year, the China Securities Regulatory Commission (CSRC) announced a loosening of restrictions to enable foreign funds based in Hong Kong and offshore branches of Chinese banks to apply for a RQFII quota.

HSBC’s licence approval is expected to be one of many, with a number of foreign banks and asset managers awaiting approval.

In another sign of the greater use of the Chinese currency in Asia’s capital markets SGX, the Singapore exchange, on Thursday said Chinese shipbuilder, Yangzijiang Shipbuilding Holdings, would be the first company to have its shares traded in renminbi on the bourse next month.

Earlier this month, Chinese authorities took further steps to widen the existing channels for international investment. The overall quota available under the QFII scheme was raised from $80bn to $150bn, while the RQFII programme was extended beyond Hong Kong to other offshore renminbi trading centres, such as London, Singapore and Taiwan.

The CSRC also removed rules on how quotas could be used earlier this year, freeing up fund managers holding either type of licence to invest in the equity and domestic bond markets. HSBC plans to use its newly obtained RQFII licence primarily to invest in China’s onshore fixed income market, which offers much higher yields than debt traded offshore.

中国监管部门已批准汇丰(HSBC)在中国内地进行人民币投资。此举是中国在向海外资本开放金融市场方面迈出的最新一步。

汇丰资产管理部门昨天表示,它已获得人民币合格境外机构投资者(RQFII)资格,从而能够以人民币投资中国内地股市和债市。

RQFII配额体系首创于2011年,目的是对更广为人知的“合格境外机构投资者(QFII)机制”形成补充。在QFII机制下,投资者可将美元汇入并兑换成人民币进行投资。

RQFII牌照持有者可用离岸持有的人民币投资中国内地市场。设立这一牌照,是为了鼓励国际贸易中更多使用人民币。

此前,RQFII机制仅向内地资产管理和经纪机构的离岸分支机构开放。至上月底,中国证监会(CSRC)总共只派发了22块牌照。

但中国证监会在今年3月宣布一项新规,放宽对RQFII的限制,允许驻香港的外国基金管理公司和中资银行离岸分支机构申请RQFII配额。

预计汇丰的RQFII牌照获批将只是个开始。目前,有多家外资银行和资产管理机构的牌照申请正在等待批准。

新加坡交易所(SGX)周四宣布,中国扬子江船业控股公司(Yangzijiang Shipbuilding Holdings)的股票下月将成为该所第一只接受人民币交易的股票。这是人民币在亚洲资本市场用途扩大的另一例证。

本月早些时候,中国有关当局采取了一些措施,进一步拓宽国际投资者现有的投资渠道。QFII整体配额已从800亿美元增加到1500亿美元,RQFII项目也从香港拓展到其他一些离岸人民币交易中心,比如伦敦、新加坡以及台湾。

今年早些时候,中国证监会还取消了针对配额使用方式的一些规定,允许持有两种牌照中任何一种的资金管理机构投资股市和内地债市。汇丰计划将新获的RQFII牌照主要用于投资中国在岸固定收益市场,以获得远高于离岸债券市场的收益率。

译者/王慧玲

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