China to let mutual funds buy Hong Kong shares via 'connector': regulator

China's securities regulator said on Friday it would let mainland mutual funds invest in Hong Kong shares via the Shanghai-Hong Kong Stock Connect. Up until now, Chinese mutual funds have been able to invest in overseas markets only through the Qualified Domestic Institutional Investor (QDII) program, which requires regulatory approval. Giving mainland funds access to Hong Kong shares via the Shanghai-Hong Kong Stock Connect will promote product and business innovation, and be good for steady development of the connect scheme, Deng Ge, spokesman for the China Securities Regulatory Commission (CSRC), told a news conference in Beijing. The scheme, launched late last year, allows Hong Kong and mainland investors to invest in each other's markets up to a daily quota.

via Business News http://ift.tt/1HPUJT9