China this week - 6 Nov 2015

Added 6th November 2015

A roundup of the week's asset management industry news from mainland publications.

China this week - 6 Nov 2015

Opportunities in Chinese blue-chip companies

Chen Jian, investment director of China Southern Fund, said that Chinese blue-chip companies hold good value with an average return of over 6%. He noted that the Chinese market is not set for a hard landing anytime soon.

November 6, China Securities Journal

UBS AM sets up in Shanghai

The bank’s asset management arm has set up in the Shanghai Free Trade Zone to launch its QDLP business in China.

With an initial quota of $100m, UBS Global Asset Management (Shanghai) is planning to launch private funds investing in both alternative and traditional asset classes to domestic institutional investors and high-net-worth individuals by the end of 2015.

Shanghai Daily, November 5

China needs $315bn in Green fund

China needs 2 trillion yuan ($315bn) of “green” investment annually in environment and energy-saving sectors in the next five years and private funds in these areas will be encouraged, financial experts said.

Ma Jun, chief economist of the People’s Bank of China, said there will be rules to nurture the market for green bonds and stocks.

Wang Yao, deputy secretary-general of the committee, said a catalog of green bonds is nearly completed to offer investors a clear idea of the standards needed and there will be rules to ensure the funds collected are properly used and projects properly arranged.

China Daily, November 4

Credit Suisse wants QFII restrictions relaxed

Nichole Yuen, head of Greater China Equities at Credit Suisse, said that Chinese stock markets are still at a nascent stage of development. In her view, Chinese stock markets have not progressed in the last two decades.

Yuen argued for a relaxation on restrictions through the quota system known as the QFII program. At present, foreign investors who participate in China’s stock market through the QFII can only carry out hedging transactions.

Securities Times, November 3

China Orient AM to shed non-performing assets

China Orient Asset Management disclosed that it intends to dispose of Shandong Grain and Oil Industry through a private tender. The tender is open to both domestic and foreign investors.  The fund house revealed that the buyer will have to take over RMB 70 million ($11m) worth of debt plus RMB 30 million ($4.72m) in interest arrears., November 2

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