CITI BANK, HSBC, AND SCB: THE FIRST PIECE OF CAKE OF QFII
AsiaInfo Services, November, 2002
AsiaInfo Services 11-15-2002 CITI Bank, HSBC, and SCB: the First Piece of Cake of QFII SHANGHAI, Nov 15, 2002 (SinoCast via COMTEX) -- QFII would permit HSBC expend its trusteeship business to A-share market, announced HSBC on November 11. HSBC has handed in an application to related departments. On November 10, Huang Yuanhui, president of China Region of Standard Chartered Bank, expressed that Standard Chartered Bank (SCB) would try effort to apply for the trusteeship bank and clearing bank of QFII.
After studying the related rules, SCB would apply for qualification of QFII trusteeship bank. CITI Bank also revealed on November 11 that it was analyzing the related policies and would hand in its application as soon as possible. Some insiders express that...
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