Securities Supervision Commission: Relax the proportion of mutual recognition fund sales from 50% to 80%

On June 14, the China Securities Regulatory Commission recently amended the "Hong Kong Mutual Recognition Fund Management Interim Provisions" (Securities Supervision Commission Announcement [2015] No. 12) to further optimize the mutual recognition arrangements between the mainland and Hong Kong funds. The "Hong Kong Mutual Recognition Fund Management Provisions (Draft Revised Exposure Draft) " is now open to the public for comments. Since the implementation of the mutual recognition mechanism between the mainland and Hong Kong funds in July 2015, the mutual recognition of funds between the mainland and Hong Kong has been carried out in a stable and orderly manner. The various systems and mechanisms have been running well, which has better met the cross-border financial management needs of investors in the two places. At the same time, it has strongly supported the construction of Hong Kong In order to give better play to the positive role of the mutual recognition mechanism between the two places, this rule amendment is planned to be optimized in two aspects, one is to relax the limit on the sales ratio of mutual recognition funds from 50% to 80%; the other is to allow Hong Kong mutual recognition fund investment management functions to be delegated to overseas asset management institutions with the same group as the manager.