Hong Kong keen to attract overseas fund managers

Bangladesh News.Net
Thursday 15th May, 2008

Hong Kong's government is calling on foreign fund managers to tap the huge domestic savings of China.

Hong Kong is Asia's leading wealth management center with 80 fund management houses currently operating there.

Secretary for Financial Services and the Treasury, K.C. Chan, has told a Washington forum that Hong Kong's combined fund management business now exceeds US$789 billion, of which 60 percent was sourced from overseas investors.

Chan said that Hong Kong, which together with Macau are called special administrative regions of China, was also witnessing an expansion of the Chinese yuan currency-linked business.

He also urged investors to capitalise on the growth of Hong Kong and the mainland economy, by investing in Chinese enterprises shares listed on the Hong Kong Stock Exchange.

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