Chinanews, Shanghai, Feb. 6 – Sources from the Hong Kong securities regulatory department said that in the end of December, 2006, mainland securities regulatory department went to Hong Kong to discuss about expanding investing scope for China’s qualified domestic institutional investors (QDII). It is expected that QDII will soon make their investment in non-fixed-income financial products in overseas market.

 

In addition, Financial Secretary of the Hong Kong Special Administrative Region Henry Tang Ying-yen disclosed that substantial progress was expected to be made for mainland financial institutions to issue treasury bonds in Hong Kong by the first half of this year, the Shanghai Morning Post reported.

 

The information was released at the Hong Kong Financial Services Forum held in Shanghai recently.

 

Earlier this year, the People’s Bank of China approved of mainland financial institutions issuing Renminbi treasury bonds in Hong Kong. Currently, related work has to be done in technical field to pave the way for the launching of the service. Henry Tang Ying-yen said that preparation work in Hong Kong had already started, somewhat earlier than the mainland. He estimated that mainland would finish its preparation work by the second quarter of this year.