Recently, BOC (Bank of China) successfully took custody of and primarily sold by proxy the innovative product of the first multi-currency raising QDII fund (simultaneously raising USD and RMB), namely Huaxia HSI ETF feeder fund. During issuance, subscription capital of RMB453,000,000 and USD17,110,000 was raised. According to the exchange rate on the end date of raising, RMB563, 000,000 was raised in total.
The successful proxy sale of this innovative foreign currency fund product indicates that BOC has laid a solid foundation in terms of system application and business system, and has been recognized by investors, regulatory authorities and fund management companies. At present, several fund management companies actively intend to cooperate with BOC. BOC and China Merchants Fund have successfully completed function connection testing of foreign fund system and fund appropriation testing. Next, BOC will continue improving and perfecting the support capability of fund proxy sale system for innovative businesses.
Foreign currency fund product is a powerful instrument to enhance foreign currency assets’ liquidity and expected yield, and has a huge market demand, thus being a new business driver in fund industry. Therefore, BOC will, in line with market trend, strengthen business support and lead this segmental market.
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