Hopes of a lasting boost to Hong Kong’s asset management industry from a deal to sell funds into China have been dealt a blow by growing speculation that the UK and other markets will quickly benefit from similar agreements.
香港资产管理行业曾希望借助一项向中国内地销售基金的协议得到持久的提振。但外界对于英国和其他市场将很快与中国达成类似协议的猜测越来越多，令上述希望大打折扣。Hong Kong and Chinese regulators are set to sign an agreement in coming weeks to give funds domiciled on both sides of the border “mutual recognition” in each other’s markets, according to people following the talks.
了解谈判进程的人士称，预计在未来几周内，香港与中国内地的监管机构将签署一项协议，允许两地市场“相互认可”在对方市场注册的基金。Analysts have described the opening up of China as a “game changer” that would secure Hong Kong’s future as a financial centre by making it the best base for international fund managers from which to try to sell investments to hundreds of millions of Chinese savers.
分析人士曾将中国开放市场形容为一件“改变游戏规则的大事”，使香港成为国际基金公司向中国内地数百万储蓄者销售投资产品的最佳基地，从而保障香港作为一个金融中心的未来。
However, the UK will receive a similar mutual recognition deal as early as June next year, allowing British funds to sell directly into China, according to one senior China banker with close ties to the China Securities Regulatory Commission.
但一位与中国证监会(CSRC)关系密切的中国资深银行家表示，英国最早明年6月将与中国签订一项类似的相互认可协议，使英国基金能直接向中国销售。A number of lawyers and fund managers in Hong Kong agree that this is likely, with the granting of access to funds following a similar pattern as the granting of quotas for schemes such as the renminbi qualified foreign institutional investor (RQFII) plan that allows foreign institutions to raise renminbi to reinvest in China.
香港许多律师和基金经理认为这是可能的，他们认为，中国将按类似人民币合格境外机构投资者(RQFII)计划的途径，授权英国基金进入中国市场。RQFII计划允许海外投资机构募集人民币资金并再投资于中国内地。“As in a number of initiatives, Hong Kong has the first-mover advantage,” said Sally Wong, the chief executive of the Hong Kong Investment Funds Association. “But we always understand that there is no ‘exclusivity’.
香港投资基金公会(Hong Kong Investment Fund Association)行政总裁黄王慈明(Sally Wong)表示，“像大量其他安排一样，香港拥有先发优势。但我们历来明白，香港没有‘专营权’。”“This is best exemplified in RQFII – it opened up to Hong Kong licensees in March, and in three months’ time it was extended to a number of jurisdictions.”
“这在RQFII上得到了最有力的体现，该计划3月对香港开放，3个月后便扩展到了好几个管辖区。”Mark Konyn, chief executive at CCAM, a Hong Kong-based manager, said: “There is definitely a very strong feeling that any advantage Hong Kong has in going first will short lived at best.”
香港国泰康利资产管理有限公司(CCAM)的首席执行官康礼贤(Mark Konyn)表示：“市场明显强烈认为，香港充其量会获得短时间的先发优势。”