Hong Kong deal on mutual funds seen by Q2

Hong Kong deal on mutual funds seen by Q2

Finance Minister Uttama Savayana, left, meets Hong Kong Financial Secretary Paul Chan in Hong Kong on Monday. (Photo from the Fiscal Policy Office)
Finance Minister Uttama Savayana, left, meets Hong Kong Financial Secretary Paul Chan in Hong Kong on Monday. (Photo from the Fiscal Policy Office)

The Securities and Exchange Commission (SEC) is set to sign a memorandum of understanding with its Hong Kong counterpart on fast-track approval of cross-border investment in mutual funds by the second quarter.

After the agreement is signed, both parties will amend regulations to ease cross-border mutual fund investment, Nataya Niyamanusorn, the SEC’s assistant secretary-general, said on the sidelines of a meeting with Hong Kong regulators.

The current filing process for cross-border mutual fund investment is a lengthy ordeal, she said.

Finance Minister Uttama Savanayana said Hong Kong’s authorities support easier cross-border mutual fund investment.

Meanwhile, Stock Exchange of Thailand president Pakorn Peetathawatchai said the agreement will come as a boon to Thai investors, as they can more easily access China’s stock market through the Shanghai-Hong Kong Stock Connect scheme.

At least 10 Thai mutual funds are putting money into China. 

Hong Kong’s stock regulator will also provide support for green bonds issued in Thailand to list on the Hong Kong market by easing listing regulations, Mr Pakorn said.


Do you like the content of this article?
COMMENT

'We're sorry'

PM Prayut says sorry and vows to revise measures to prevent a repeat of the Egyptian and Sundanese cases. Rayong tourism sector hard hit by second blow.

20:16

Labour Ministry resumes migrant permit services

The Labour Ministry has resumed services nationwide by adopting social-distancing measures in order to complete the legalisation process for migrant labourers who registered online by March 30.

19:07

Bangkok gears up for motor show as restrictions ease

Bangkok on Tuesday prepared to host its twice-postponed annual auto show, with organisers saying it would showcase the country's success in containing the coronavirus.

17:57