The Chinese government will issue licences to several trust companies to participate in a scheme which lets domestic financial institutions help clients to invest abroad, an official newspaper said on Saturday.
Several domestic trust firms are at the final stage of preparations for launching their products under the Qualified Domestic Institutional Investor scheme (QDII) and are expected to win business licences soon, the Shanghai Securities News reported, citing a senior official.
Meanwhile, Beijing is also encouraging Chinese trust firms to find foreign strategic partners and to cooperate with investment banks and private equity firms to develop deals and products, said Li Jianhua, deputy director of the non-banking division at China Banking Regulatory Commission.
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