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Hong Kong, Mainland China Sign Futures MOU

by Mary Swire, Lowtax.net, Hong Kong
05 December, 2013

Hong Kong Exchanges and Clearing Limited (HKEx) and the China Futures Association (CFA) signed a Memorandum of Understanding (MOU) on December 2, to further their cooperation and the exchange of information.

The MOU was signed by HKEx Chief Executive Charles Li and CFA Chairman Liu Zhichao in Shenzhen, where they were attending the 9th China (Shenzhen) International Derivatives Forum.

"This is an important step in furthering our relationship and communication with the CFA and Mainland futures industry," Li said. "We hope we can help Mainland futures brokers reach out globally by offering them a market with a wide range of products to meet their clients' investment and risk management needs, as well as a platform for capital formation."

He added that "the HKEx derivatives market is a highly internationalized market with participants from 15 major markets. Mainland futures brokers are already among the major players in our markets and we expect the numbers to grow along with Mainland demand for hedging and risk management tools as more funds from the Mainland are invested overseas."

In addition to Hong Kong and Mainland China, participants in HKEx's derivatives market have also come from Australia, Canada, France, Germany, Indonesia, Japan, Malaysia, the Netherlands, Singapore, Switzerland, Taiwan, the United Kingdom and the United States. As at the end of November 2013, 34 out of 179, or about 19 percent, of participants were from the Mainland.

A comprehensive report in our Intelligence Report series giving a country-by-country analysis of offshore investment funds, stock exchanges and trusts, with an analysis of the US QI regime, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

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