HSBC reports that it has successfully facilitated market-first securities lending transactions conducted by China Asset Management (Hong Kong) Limited (China AMC) in mainland China today.

The two transactions completed on the Shanghai Stock Exchange and Shenzhen Stock Exchange are among the first batch of securities lending transactions via the Qualified Foreign Institutional Investors (QFII) scheme.

HSBC is the custodian, providing services including investment scope update filing, assets custody and transaction settlement, for these transactions.

Under the new QFII/RMB Qualified Foreign Institutional Investors (RQFII) rules effective 1 November 2020, offshore investors have been given expanded investment scope which includes securities lending. The new rules have also combined into one the QFII and RQFII, lowering entry requirements as well as simplifying procedures.

Said Brian Godins, Head of Securities Services, Asia Pacific at HSBC: "The new QFII/RQFII rules mark a new milestone, as China seeks higher-level opening-up of its domestic capital market to foreign investors.

"Offshore investors can have easier market access and broader scope when investing via QFII/RQFII. Securities lending would help global investors realise flexible strategy deployment as they tap deeper into China's capital market.

"This latest expanded investment scope and other relaxation measures will definitely help boost the attractiveness of QFII/RQFII and draw more foreign capital into China."

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