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Market Chatter: CICC Sees Strong China Outbound Investment Demand Despite Beijing Crackdown

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CICC (SHA:601995, HKG:3908) said the demand for cross-border investments from mainland China clients remained "robust" despite Beijing's recent tightening of overseas portfolio rules, including new taxes on offshore trusts, The South China Morning Post reported Friday.

Qiao Bo, managing director at the financial services provider, said global diversification remains essential to lower portfolio volatility, according to the report.

CICC projects double-digit annual growth in asset management, backed by Chinese managers shifting to "globalized operations" in Hong Kong, the SCMP wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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