HK execs dismiss London-China recognition deal

Fund industry experts have rubbished rumours that Beijing and London have struck a deal to set up a mutual fund recognition programme within months to rival Hong Kong’s own pending deal. Quoting a China banker close to the China Securities Regulatory Commission (CSRC), a Financial Times article recently claimed the UK would receive a reciprocal funds arrangement as early as June this year similar to the one mooted for Hong Kong. Details on the HK-China scheme are widely expected…