Preparations to allow Hong Kong-located mutual funds to be sold on the mainland and vice-versa have been completed and are now waiting for the approval from mainland regulators, South China Morning Post reported, citing Securities and Futures Commission deputy chief executive Alexa Lam Cheung Cheuk-wah. Lam said she believed mainland authorities “are waiting for the most appropriate time to announce the [start] of the scheme”. Her comments come after China Securities Regulatory Commission chairman Xiao Gang said last month that mutual fund recognition would be the next important project to push forward following the Hong Kong-Shanghai Stock Connect.
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