JPMorgan Asset Management Singapore clinches RMB investor licence

It can now trade in China’s securities market.

JPMorgan Asset Management Singapore today revealed that it has received its Renminbi Qualified Foreign Institutional Investor (RQFII) licence from the China Securities Regulatory Commission (CSRC), which will allow it to access China’s Securities market.

The unit will now apply to the State Administration of Foreign Exchange for an investment quota. It has US$6.9 billion in assets under management in Singapore.

“It will help us meet the growing demand of investors for Chinese bonds, stocks and money-market instruments. Although we expect downward pressure on the Chinese economy from the slowing property market and the corporate de-leveraging, we see domestic consumption and exports to a recovering US economy, supporting top line growth and China enjoying renewed investor interest,” said Steven Billiet, Chief Executive Officer, JPMorgan Asset Management Singapore.