Chinese wealth manager Jupai has expanded its overseas services by launching a subsidiary in Hong Kong, known as Jupai Hong Kong.
The new entity will offer professional advisory service for clients. It has introduced a series of comprehensive products including private equity and venture capital, real estate funds, mutual funds and hedge funds.
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Since listing on the New York Stock Exchange last July, the Chinese wealth manager focused on the opening of the Hong Kong office. It acquired a securities firm licensed for Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) by the Securities and Futures Commission. The acquired firm was subsequently renamed as Juhui Financial Securities Limited.
Jupai co-chairman and executive chairman of the board of directors Tony Hu Tian-xiang said: "The opening of Jupai HK is of strategic significance to us. Firstly, it represents a key step forward in our international expansion. Secondly, our philosophy is to be a ‘dedicated and responsible wealth management expert,’ so Jupai HK can provide more comprehensive investment products and optimized services for investors."
Jupai co-chairman and CEO Jack Ni Jian-da said: "Jupai has chosen Hong Kong as the first stop for our strategic overseas layout, not only for the attraction and competitiveness arising from the city’s status as an international financial centre.
"We believe that the newly established Jupai HK can bring more and better products and services to Jupai’s high-net-worth clients through working closely with and the strong support of Hong Kong’s industry players and partners."
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By GlobalDataJupai co-founder, director and COO Wesley Yao Wei-shi said: "Entering the Hong Kong market marks an important advance in Jupai’s international expansion strategy subsequent to our listing on NYSE a year ago. It comes at the ‘right time’ as the RMB starts internationalization and interest in overseas asset allocation by high-net-worth individuals in mainland China is increasing.
"Jupai HK has attracted top professionals from Wall Street, Japan and Hong Kong to join it, bringing all the ‘right people’ under one roof."
Jupai offers integrated financial services to high-net-worth individuals. As of March 2016, its national network consisted of 58 offices covering 5 cities in China, such as Shanghai, Beijing, Suzhou, Hangzhou and Xiamen, with headquarters in Shanghai.
