China Banking Regulatory Commission (CBRC) recently announced that it will relax the restrictions on direct investment of QDII (qualified domestic institutional investor) products in overseas stock markets, and adjust the provisions on the scope of overseas investment of commercial banks' overseas wealth management business-"No direct investment in stocks and their structured products, commodity derivatives and securities below BBB level" to "No investment in commodity derivatives, hedge funds and securities below BBB level rated by internationally recognized rating agencies".
It is understood that in order to control investment risks, the CBRC has made detailed provisions on stock investment: First, the invested stocks should be listed on overseas stock exchanges; Second, the funds invested in stocks shall not exceed 50% of the net assets of a single wealth management product; The capital invested in a single stock shall not exceed 5% of the net assets of a single wealth management product; Three, the initial sales amount of a single customer shall not be less than 300 thousand yuan (or equivalent foreign currency).
Yu Dongsheng, a financial planner in the business department of Agricultural Bank of China Branch, told reporters that according to regulations, overseas stocks that QDII can invest in are currently limited to Hong Kong stocks. The above provisions actually mean that the new QDII products launched in the future can invest up to 50% of the funds in Hong Kong stocks, which is actually quite high.
In fact, there are not a few investors who are full of expectations for the H-share market. Bankers expect that the new QDII products will be more attractive. Insiders pointed out that companies listed on A shares and H shares flooded into the A-share market last year, because the share price of A shares was not as good as that of H shares. This year, the situation is just the opposite. Because of the rapid rise of A shares, the share price of A shares of the same company has surpassed that of H shares. For example, China Petrochemical (12.39, -0.45, -3.50%) closed at HK$ 8.07 yesterday, while the A-share market closed at RMB 65,438+RMB 02.84. Yesterday afternoon, 17: 13, the exchange rate between Hong Kong dollar and RMB was 1: 0.9807.
The reporter learned that there is already a bank QDII product that indirectly invests in the Hong Kong stock market. China Bank, which has just been established for more than a month, is developing steadily. Its important investment target is the open-end fund in Hong Kong, with the highest investment ratio reaching 75%. Relevant persons of Zhejiang Branch of Bank of China believe that compared with the first QDII product invested in the US bond market, this product invested in the Hong Kong stock market should have a better performance in terms of yield.