Although China has yet to decide on whether or how to introduce a qualified domestic institutional investor QDII scheme - a result that fills the dreams of global money managers - many mainland institutional investors have become quite active global investors through structured products arranged by foreign investment banks.
PICC has given out a bond mandate and Ping An Life and China Life are looking, says one Shanghai-based executive at a foreign bank, referring to three of China's biggest insurance companies. Commercial banks are already active in global fixed income, and state-owned enterprises with foreign currency are also investing through Hong Kong-based or offshore-based structures. Now the investment trust companies are...
