Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Current Home > Business > Enterprises & Products
ICBC launches yuan investment service in HK market
Latest Updated by 2007-05-30 11:00:38
Related News
Central bank raises rates, reserve ratio
Standard Chartered Bank sets up private banking HQ in Singapore
Two more banks raise ATM withdrawal limit
Business News
Stocks plummet after stamp tax hike
Investors warned of get-rich-quick share scams
Largest gasfield discovery may be declared soon

The Idustrial and Commercial Bank of China (ICBC) in Hong Kong. (File Photo)

The Industrial and Commercial Bank of China (ICBC) on Tuesday launched a service to help investors buy stocks in Hong Kong with mainland currency, a first step in widening overseas investment scope for domestic lenders.

Individual investors would be able to buy stocks, bonds and other financial products by entrusting their yuan-denominated assets to the ICBC, said a management official with ICBC, the country's biggest lender.

The service provided a wider channel for mainland Chinese to invest overseas and they could expect higher yields from the H-share market, said insiders.

On May 11, the China Banking Regulatory Commission announced that mainland commercial banks offering overseas wealth-management services could invest in a wider range of asset classes, including equities and equity funds authorized by a supervisory authority with whom the commission has a memorandum of understanding.

Securities and Futures Commission Chairman Eddy Fong said the move would result in a win-win scenario for both the mainland and Hong Kong.

Mainland investors would be able to enjoy a wider choice of investment products in Hong Kong, while benefiting from Hong Kong's existing asset-management industry, Fong said.

The ICBC rose 1.08 percent to 5.59 yuan on the Shanghai stock exchange on Tuesday.

Editor: Yan

By: Source: China View website
Previous:    Next:Guangdong Nuclear in Anhui plant deal

Stamp tax raised on securities to cool stock market

Human Domino get people relaxed

[Guangzhou] Eight New Attractive Places of Liwan District Selected

Tiyu Xi Road South to reopen to traffic

China beat S Korea 5-2 in women's soccer friendly
This site contains material from other media for content enrichment purpose only.
The website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of are those of the authors and/or publishers. The website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact within thirty (30) days. Email:
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips