Bank of China (BOC) Investment Management Co., Ltd. has been approved to float two fund products in Hong Kong.
It got the permission together with eight other fund products nodded by the Securities and Futures Commission of Hong Kong to be issued locally. Earlier in July 2015, China kicked off a scheme on Chinese mainland-Hong Kong mutual recognition of funds to attract overseas capital into local capital market and widen investment channels for investors both on the Chinese mainland and Hong Kong.
According to Bank of China, the two fund products are both equity-investing funds of BOC Investment Management, which managed more than 670 billion yuan of assets by the end of 2015, of which over 270 billion yuan were publicly-raised funds, up significantly from the 43.5 billion yuan at the end of 2011.
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