DST lends China a hand with RQFII scheme 15 June 2012Shanghai and Hong Kong Reporter: Georgina Lavers
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DST Global Solutions is helping its Chinese asset management clients prepare for participation in the recently launched RQFII scheme through its asset servicing solution HiPortfolio.
China launched a RQFII pilot scheme at the end of 2012 to hasten RMB internationalisation and further facilitate the backflow of RMB.
The RQFII guidelines were released in late 2011, with an initial investment quota of 20 billion RMB allocated to nine Chinese asset managers and 12 securities brokerages.
In April 2012, China expanded its RQFII scheme by increasing the investment quota to 70 billion RMB.
Geoff Harries, global head of asset servicing, DST Global Solutions said: “With the launch of the RQFII scheme, our clients in the fund management industry require a solution that is designed to work in global markets as well as help them meet the requirements of the Chinese fund management industry.”
DST Global Solutions has been operating in China since 2003.
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