Latest news with #ChinaAssetManagement
Business Times
17-07-2025
- Business
- Business Times
China's second-largest fund house launches world's first renminbi tokenised money fund
[HONG KONG] The Hong Kong arm of China's second-largest fund firm China Asset Management (ChinaAMC) rolled out on Thursday (Jul 16) the world's first renminbi-denominated tokenised money fund. This is the first tokenised money market product giving exposure to renminbi-denominated assets, after rising demand for similar products based on US dollar funds. 'Our tokenised products are designed to welcome the arrival of stablecoins, whether it is Hong Kong dollars, renminbi or US dollar,' said Tian Gan, CEO of ChinaAMC HK at a press conference, referring to Hong Kong's new stablecoin rules poised to take effect on Aug 1. The firm aims to become among the first to offer yield-generating products catering to stablecoin users, Gan added. Stablecoin is a type of cryptocurrency designed to maintain a constant value, and it is usually pegged to a fiat currency such as the US dollar and is commonly used by crypto traders to move funds between tokens. China's tech giants are urging the central bank to allow the launch of stablecoins in Hong Kong pegged to its offshore renminbi to help promote the global use of the Chinese currency and fend off the US dollar's growing digital influence, Reuters reported citing sources earlier this month. Tokenisation turns traditional assets into digital tokens, enabling the creation of a digital central bank system that settles payments and securities trades faster and more cheaply by reducing manual checks. ChinaAMC Hong Kong also launched a tokenised US dollar money market fund, calling it the first such offering in Asia. The fund firm in February rolled out a similar product based on the Hong Kong dollar. The Hong Kong unit expects demand for such funds to keep rising in the near future, as regulated on-chain money such as regulated stablecoins, tokenised deposits and central bank digital currencies become more widespread. REUTERS
Reuters
17-07-2025
- Business
- Reuters
China's second-largest fund house launches world's first renminbi tokenised money fund
July 17 (Reuters) - Hong Kong arm of China's second-largest fund firm China Asset Management (ChinaAMC) on Thursday rolled out the world's first renminbi-denominated tokenised money fund. This is the first tokenised money market product giving exposure to renminbi-denominated assets, after rising demand for similar products based on U.S. dollar funds. Tokenisation turns traditional assets into digital tokens, enabling the creation of a digital central bank system that settles payments and securities trades faster and more cheaply by reducing manual checks. ChinaAMC Hong Kong also launched a tokenised U.S. dollar money market fund, calling it the first such offering in Asia. The fund firm in February rolled out a similar product based on the Hong Kong dollar. The Hong Kong unit expects demand for such funds to keep rising in the near future, as regulated on-chain money such as regulated stablecoins, tokenized deposits and central bank digital currencies become more widespread.
Bloomberg
11-07-2025
- Business
- Bloomberg
Qatar Wealth Fund Becomes ChinaAMC's Third-Largest Shareholder
China Asset Management Co. said Qatar Holding LLC became its third-largest shareholder after acquiring a 10% stake, marking the latest instance of Middle Eastern capital flowing into the world's second-largest economy. The Chinese company said its original backer Tianjin Haipeng Technology Consulting Co. transferred its stake, which was approved by the China Securities Regulatory Commission, according to a notice.
Al Arabiya
23-05-2025
- Business
- Al Arabiya
China approves Qatar to buy a tenth of its top asset manager
China has given approval for Qatar 's sovereign wealth fund to acquire a stake of 10 percent in its second-largest mutual fund company, the first such investment in the sector by a major Middle East investor at a time of rising tension with the West. China's securities watchdog approved the Qatar Investment Authority (QIA) to become a stakeholder in China Asset Management Co (ChinaAMC), an official filing by the China Securities Regulatory Commission showed on Thursday. The price of the stake was not disclosed. Earlier filings by ChinaAMC's largest shareholder showed the 10 percent ownership would not be priced at less than $490 million. In April last year Reuters first reported the sovereign fund had agreed to invest in the Chinese fund house. QIA will become the third-biggest shareholder in ChinaAMC, which has assets of more than 1.8 trillion yuan ($249.98 billion),and provides mutual funds and exchange traded funds to retail and institutional investors. The deal was approved amid a flurry of activity between China and Gulf countries aiming to deepen political, economic and financial ties. ($1 = 7.2005 Chinese yuan renminbi)
Reuters
23-05-2025
- Business
- Reuters
China approves Qatar sovereign fund to buy a tenth of its top asset manager
HONG KONG, May 23 (Reuters) - China has given approval for Qatar's sovereign wealth fund to acquire a stake of 10% in its second-largest mutual fund company, the first such investment in the sector by a major Middle East investor at a time of rising tension with the West. China's securities watchdog approved the Qatar Investment Authority (QIA) to become a stakeholder in China Asset Management Co (ChinaAMC), an official filing by the China Securities Regulatory Commission showed on Thursday. The price of the stake was not disclosed. Earlier filings by ChinaAMC's largest shareholder showed the 10% ownership would not be priced at less than $490 million. In April last year Reuters first reported the sovereign fund had agreed to invest in the Chinese fund house. QIA will become the third-biggest shareholder in ChinaAMC, which has assets of more than 1.8 trillion yuan ($249.98 billion)，and provides mutual funds and exchange traded funds to retail and institutional investors. The deal was approved amid a flurry of activity between China and Gulf countries aiming to deepen political, economic and financial ties. ($1 = 7.2005 Chinese yuan renminbi)
