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Citi Says Now Ready To Support Regulated Offshore Funds Tap Into Chinese A-Shares
Tom Burroughes
19 January 2015
The depository bank business of is ready to support alternative investment funds and UCITS funds that registered in European countries so they can trade shares through the recently-formed Shanghai-Hong Kong equity market link, the US bank has announced. The Stock Connect, or “Through Train” link was launched in November last year, seen as a way of opening China’s equity market to more international investors – and also possibly putting pressure on rival exchanges in hubs such as Singapore. Citi said it has been working with regulators, law firms, industry groups and other bodies to ensure that funds can invest in Chinese A-shares through Stock Connect. Meanwhioe, the US bank has been designated by The Hong Kong Monetary Authority as one of the primary liquidity providers for the offshore renminbi market in Hong Kong in November 2014.