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Carmignac Group will soon have access to Chinese domestic market

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Carmignac and BNP Paribas IP are the only two companies in France, and in the eurozone, to have been granted a Renminbi Qualified Foreign Institutional Investor (RQFII) licence.

This licence, issued by the China Securities Regulatory Commission (CSRC) in a move to relax the country’s investment restrictions, gives access to A shares and local bonds denominated in RMB.
 
The management company will subsequently be allocated a specific investment quota.
 
The Carmignac Group will soon have access to the Chinese domestic market where bond issuance amounts to USD5,000 billion and the market capitalisation of the equity market is USD4,000 billion – more than twice that of Chinese companies listed abroad, not to mention the many stocks that are not listed outside China at all.
 
Haiyan Li-Labbé, China analyst at Carmignac, says: “The reforms embarked upon by the Chinese government are a short-term hurdle but offer excellent long-term potential, which is where we want to be able to position ourselves effectively.”

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