On December 7, China Minsheng Bank held a cross-border business seminar in Shenzhen, and China Minsheng Bank Overseas Custody Center (Hong Kong) was officially inaugurated to further upgrade the cross-border custody business panoramic service plan, give full play to the unique advantages of cross-border custody business, and provide high-level services Open to the public.
China Minsheng Bank Overseas Custody Center (Hong Kong) is the first overseas custody center established by Minsheng Bank since it launched its custody business. It fully leverages the unique advantages of the financial free port in Hong Kong to effectively connect the inland and global markets and help overseas investors. “Bringing in” and assisting domestic investors in “going out”.
Li Bin, Vice President of Minsheng Bank, said in his speech that based on the decision-making and deployment of the Central Financial Work Conference on high-level financial opening up, Minsheng Bank will continue to deepen the construction of a characteristic high-quality custody bank, using Minsheng Bank Hong Kong Branch as a bridgehead to build a cross-border cross-border financial institution with Minsheng characteristics. The custody service system works hand in hand with all parties to jointly serve the new chapter of the country’s opening up to the outside world.
During the keynote speech session of the conference, the Shanghai Headquarters of China Central Government Securities Depository and Clearing Co., Ltd., Hong Kong Exchanges and Clearing Limited, JPMorgan Chase Bank and Brown Brothers Harriman respectively focused on the opening up of China’s bond market, interconnection between Hong Kong and the mainland market, global and He delivered a keynote speech on the outlook for China’s economic situation and the evolution of global asset custody services. In the roundtable forum, Minsheng Bank Hong Kong Branch and guests from the domestic and foreign asset management industry discussed the opportunities and challenges of cross-border business from multiple perspectives, and discussed using the power of finance to promote high-level opening up to the outside world.
Cui Yan, general manager of the Asset Custody Department of Minsheng Bank, introduced the panoramic service plan of Minsheng Bank’s cross-border custody business to the guests. According to reports, Minsheng Bank regards cross-border custody business as one of its important development directions. Since 2019, the scale of cross-border custody business has tripled; the Hong Kong branch has successfully signed QDII sub-custodial agency service agreements with 11 banks, and the scale of custody has exceeded 150 billion Hong Kong dollars.
In the future, Minsheng Bank will continue to implement the spirit of the Central Financial Work Conference and actively use the platform of the Overseas Custody Center (Hong Kong) to work with domestic and foreign partners to build a cross-border business cooperation ecosystem of symbiosis, value sharing, and win-win cooperation. circle, jointly serve high-level financial opening up, and fully promote high-quality economic development.