Angela Chang, Head of Global Custody Service Division, ICBC, compares and contrasts the four modes of entry into China for foreign investors – QFI, CIBM, Stock Connect and Bond Connect. With quota limits removed, cross border capital flow controls relaxed and just a tax commitment letter needed for repatriation, international investment in China has become infinitely more attractive.
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Dan Wang, WFOE Service Manager, Custody Department, China Merchants Securities, talks about the two main forms of carrying out asset management in China: either via setting up a private fund company such as WFOE PFM, QDLP, QFLP or through a Mutual Fund Management Company. In general, the private fund license is much easier to obtain than mutual funds, so most institutions launch private fund business first and then transfer to mutual funds.
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