The Chinese Asset Management Association of Hong Kong (CAMAHK), a body that represents Mainland asset management and financial entities in Hong Kong has opened a new office in the territory on 5 September, according to Asia Asset Management.
The association, which currently has 48 members, facilitates the offshore RMB business and further the overseas businesses of Chinese fund managers.
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The association’s management board encompasses representatives from seven top Mainland fund managers: China AMC, CSOP, E Fund, HuaAn, Fullgoal, Bosera, and HFT.
CAMAHK chairman and also CSOP Asset Management CEO, Chen Ding, said: "Mainland fund managers have now been setting up affiliates in Hong Kong for five years, and voices confidence for the future of cross-border business structures.
"Such measures as the recently unveiled mutual fund recognition platform between Hong Kong and China will have a significant influence on the city’s fund industry over the next five to ten years, proving crucial as Hong Kong’s asserts its status as a global asset management hub of the future," Ding added.
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