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Foreign asset managers will increasingly use RMB raised in China to invest overseas, as the private fund management (PFM) programme takes off, said Alexious Lee, head of capital access, China, at CLSA.
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The Belt and Road Initiative (BRI), without a doubt, will find many private sector takers. But despite their desire to get involved, investors are holding their horses as they assess risks, especially political ones, in Belt and Road countries.
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Citic CLSA Securities has appointed a new head of fixed income syndicate in Hong Kong, who will work closely with the brokerage's debt capital markets team.
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The People’s Bank of China scraps the requirement for financial institutions to set aside cash as reserves when buying foreign currency forwards, KraneShares launches new ETF to track companies in the Belt and Road Initiative (BRI) projects, and Bridgewater is said to be starting a new investment fund in China.
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The global head of debt capital markets at NatWest Markets has decided to leave the bank after nearly 20 years.
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Habib Bank (HBL) has reached a settlement with US regulators for a much lower fine of $225m, after accusations it had breached anti-money laundering rules wiped 30% off its market value.