Prudential Sees Deeper Reforms After QFII Boost: China Overnight
This article is for subscribers only.
China’s effort to lure foreigners to its capital markets by almost doubling the amount overseas funds can invest sends a strong signal that the government is committed to reforms, according to Prudential Financial Inc.
“This is one much more decisive move and sends a strong signal about what this government wants to do,” said Quincy Krosby, a market strategist for Newark, New Jersey-based Prudential, which oversees more than $1 trillion in assets, including Chinese equities. “Little by little, they are opening up the market, paving the way for deeper reforms. The direction the authorities are taking is encouraging.”