Fund management companies get nod for setting up branches in HK

The China Securities Regulatory Commission (CSRC) has approved fund management companies in the mainland to establish branches in Hong Kong, as part of efforts to further fulfill the Closer Economic Partnership Arrangements between the Chinese mainland and Hong Kong.

Fund management companies in the mainland can now submit relevant applications to the CSRC and they will get a response within 60 days, the CSRC said in a statement on Sunday.