Sub-custody guide: China
The joint announcement by China’s Ministry of Finance, State Administration of Taxation and China Securities Regulatory Commission was made just before the formal launch of the Shanghai-Hong Kong Stock Connect, so that foreign investors investing via either channel would have fair tax treatment.
“We expect that Chinese regulators will further enhance the QFII/RQFII schemes by relaxing investor eligibility and providing more flexible account management,” says Andy Ng, head of HSBC Securities Services China. “We also anticipate that, in the next 6-12 months, more investors will look into market entry following the MSCI’s decision to include China A-share in its emerging markets index.”
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