HSBC Helps Korean Asset Manager Access RQFII Market

HSBC successfully facilitated Shinhan BNP Paribas Asset Management’s successful application for up to RMB 3 billion of Renminbi Qualified Foreign Institutional Investor (RQFII) quota.

Shinhan BNP Paribas Asset Management is the first Korean institutional investor to receive a license to access China’s onshore capital markets via the RQFII scheme. The quota is the largest amount ever approved for a first time applicant in this scheme by China’s State Administration of Foreign Exchange.

Martin Tricaud, president and CEO for HSBC in Korea said, “We are very pleased to have successfully facilitated our client’s application for the largest RQFII quota ceiling ever approved by China’s regulators. We will continue to support the Korean government’s initiative of promoting RMB internationalization in Korea and to ensure that our clients here benefit from the globalization of China’s currency and opening-up of its domestic markets.”

This is a full service where HSBC will act as trustee, global custodian and RQFII custodian for its RQFII funds.