在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

StanChart snaps up first custody services license

By Cecily Liu in London | China Daily | Updated: 2018-10-31 10:56
Share
Share - WeChat
A customer rides past an outlet of Standard Chartered Bank in Shanghai. [Photo provided to China Daily]

Standard Chartered became the first foreign bank to receive a domestic fund custody license in China on Monday, a milestone that allows the British bank to capitalize on the growing trend of Western funds investing in China's stock and bond markets.

The license allows Standard Chartered to hold and safeguard China-based assets owned by its customers, in return for a fee.

Standard Chartered's China custodian service comes at a time when many British asset management companies are growing their China investments, including Fidelity, Man Group, and Aberdeen Standard Investments.

Meanwhile, the recent inclusion of Chinese A-shares in US index provider MSCI's emerging market index, and the inclusion of Chinese bonds in the Bloomberg Barclays Global Aggregate Index means many more Western asset managers are now actively growing their Chinese stock and bond investments.

"China is of strategic importance to Standard Chartered. We are honored to be the first international bank to be granted this license," said Bill Winters, group chief executive of Standard Chartered.

"China is already being recognized as a major financial market. We are excited to be part of this process as we work closely to support our clients with their custodial requirements."

Jerry Zhang, CEO of Standard Chartered in China, added: "This is a big step forward in the further opening-up of China's domestic financial markets and a testament to our commitment to supporting China's financial reform and innovation."

China has the third-largest equity and bond market in the world. Although foreign ownership of Chinese bonds and shares is so far only around 2 percent, analysts expect this to change, following an array of recent policies by the Chinese government that further open China's financial market.

The Shanghai-Hong Kong Stock Connect, which was launched in 2014, has already significantly increased foreign ownership of Chinese stocks. A similar move to connect the stock markets of Shanghai and London, which is expected to go live by the end of this year, is expected to offer another boost.

Custodian service could give Standard Chartered an advantage among Western banks growing their China activities. This competition became particularly fierce following an announcement by the Chinese government last November that allowed foreign banks to seek majority ownership of their China joint ventures for the first time.

UBS took the plunge in May, saying it would seek control of its JV in China by upping its stake in the business to 51 percent. Nomura and JPMorgan Chase have also sought permission to launch majority-owned brokerages in China after the government relaxed its rules.

Standard Chartered has more than 100 branches in around 30 Chinese cities, with about 5,000 employees. Its China services focuses on cross-border trade finance, lending, and foreign exchange risk management, serving a range of Chinese and Western companies.

In addition to its focus on the Chinese market, Standard Chartered also has an ambitious strategy to finance projects in economies covered by the Belt and Road Initiative, which aims to develop infrastructure connecting Asia, Europe, and other parts of the world. It funded more than 50 Belt and Road deals last year and, in December, announced an additional $20 billion commitment to Belt and Road projects by 2020.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 欧美成人一区二免费视频软件 | 一级免费片 | 国产成人一区二区 | 一区二区日韩精品 | 午夜大片在线观看 | 日韩国产在线观看 | 久久精品久久久久久久久久久久久 | 欧美一级在线观看视频 | 色天天 | 哪里有免费的黄色网址 | 国产高清视频在线观看 | 精品久久精品 | 中文字幕日韩一区 | 国产一区成人 | 超碰免费在线 | 高清国产一区二区三区四区五区 | 一区二区精品在线 | 日韩欧美第一页 | 亚洲高清在线视频 | 黄色操视频 | 精品一区二区三区免费 | 欧美亚洲在线 | 亚洲免费在线观看 | 久久男人天堂 | 亚洲www啪成人一区二区 | 国产免费久久 | 欧美亚洲国产一区二区三区 | 中文字字幕一区二区三区四区五区 | 国产高清精品一区二区三区 | 国产猛男猛女超爽免费视频网站 | 99热在线国产 | 久草免费在线视频 | 免费色网 | 男女靠逼小视频 | 久久69精品久久久久久久电影好 | 九九热精 | 中文字幕在线免费观看 | 91久久艹| 国产女人和拘做受视频 | jizz18女人高潮 | 午夜精品在线观看 |