On 20 of October, Industrial and Commercial Bank of China (Europe) S.A. (hereafter refers to as “ICBC (Europe)”) has received the approval in principle by the Luxembourg regulator CSSF in relation to its first UCITS in Luxembourg investing in China’s onshore bond market. It will be the first UCITS initiated by ICBC (Europe), which not only enables ICBC to be the first Chinese bank tapping European investment fund industry through its European arm, but also signals the key milestone of business transformation and localization of ICBC in the overseas market.
The UCITS to be launched by ICBC (Europe) is the actively managed “China Concept” investment fund which will mainly invest into the China inter-bank bond market and be distributed to the European investors. The...
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