Yesterday, Hong Kong and Mainland China inked the tenth supplementary agreement for CEPA, including 73 measures serving trade opening for the convenience of trade investment, which will further boost bilateral trade cooperation.
Qualified Hong Kong financial institutions can hold stake higher than 50% in fund management JVs formed in Mainland in line with local laws and regulations.
CEPA will allow qualified Hong Kong financial institutions to set up one full license broker each in Shanghai, Guangdong and Shenzhen, in which they can hold stake up to 51%. Hong Kong brokers are permitted hold stake higher than 50% in securities investment and consultancy JVs formed in Mainland.
Source:
http://www.sinocast.com/readbeatarticle.do?id=98827
