Shanghai Stock Exchange is offering incentives to spur improved domestic payout ratios, but a change in investor thinking is not expected overnight.
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China Merchants Fund aims to build a Hong Kong business organically or via acquisition in a drive to expand its international business, which makes up just 1% of assets overall.
While the move is regarded as a step forward for the country’s financial markets, fund managers are still weighing up the costs and benefits of the hedging tool.
The company will issue the product in January to gain broader emerging-market exposure via ADRs and GDRs listed in the US and UK, and Chinese stocks in Hong Kong.