Haitong debuts RMB mutual fund in Hong Kong

Hong Kong night

The Hong Kong asset management arm of China's leading securities brokerage, Haitong Securities, is launching the first renminbi mutual fund in Hong Kong that invests in renminbi-denominated fixed or floating debt instruments issued offshore.

The main offshore market where renminbi debt instruments are issued is Hong Kong. As of today about 30 billion renminbi ($4.43 billion) of bonds are outstanding there, issued mainly by the government and mainland incorporated banks. In addition, total renmin