Regulators announce HK-China mutual recognition

Hong Kong-China mutual recognition is to be launched on July 1 this year, laying the foundation for the two sides to develop a fund regulatory standard, securities regulators in the two markets  announced. The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) jointly released a statement late on Friday (May 22) to introduce the long-awaited scheme. The initial investment quota will be Rmb300 billion ($48.3 billion) for northbound and sou…