CBRC recognizes Malaysia as QDII destination

The China Banking Regulatory Commission (CBRC) signed an agreement with Malaysia’s Securities Commission to recognize Malaysia as an approved investment destination under the Qualified Domestic Institutional Investor (QDII) program, Dow Jones and the Malaysia Star reported. The China Securities Regulatory Commission (CSRC) confirmed Malaysia’s approval under a previous memorandum of understanding with the Malaysian Securities Commission. The country joins Australia, Canada, Hong Kong, Germany, Japan, Luxembourg, Singapore, South Korea, the UK and the US as an approved jurisdiction. The agreement permits approved Chinese fund management and securities companies to invest in Malaysian equities, fixed-income products and other securities.