HSBC has become the first custodian bank in China to support a Renminbi Qualified Foreign Institutional Investor (RQFII) from Japan. A leading Japanese bank has mandated HSBC Bank (China) Limited as its onshore custodian bank in China, becoming the first Japanese investor in China authorized under the RQFII programme. As part of its support, HSBC also facilitated the license application.

The RQFII programme is aimed at opening up China's onshore securities markets to overseas investors using renminbi and was extended to include Japan with a 200 billion yuan quota allocation in May 2018.

Olivier Pacton, CEO, HSBC Japan, comments, "This significant development marks the first time for a Japanese institutional investor to access China through the RQFII programme. As one of the world's leading custodian banks and the international bank with the strongest presence in China, we look forward to supporting more Japanese investors access this important market in the future."

"This is a new age of opportunity for Japanese investors in China," said David Liao, president and CEO of HSBC China. "As the opening of China's capital markets has accelerated, domestic equities and bonds are becoming part of global benchmark indices. That gives Japanese financial institutions – which are among the world's largest investors – a compelling reason to start accessing China's markets and financing the growth of local companies."