The Zhitong Finance App learned that on October 28, the Hong Kong Securities Regulatory Commission issued a document stating that the Hong Kong Stock Exchange is welcome to launch the platform and agent services on the integrated fund platform. The launch of this service marks a key milestone in the development of the integrated fund platform, and has also greatly expanded the scope of its services. The new service will help fund managers and distributors simplify operating processes and promote wider participation of all parties in all aspects of the fund distribution industry chain. Starting today, distributors, including brokerage firms, can subscribe and redeem funds on behalf of their clients on the platform.
Ms. Wu Jiali, Executive Director of the Investment Products Division of the Hong Kong Securities Regulatory Commission, said, “With the launch of the platform and agent services, all major services of the integrated fund platform have been put into operation, indicating that the platform has achieved an important goal. The platform is expected to create real value by improving market efficiency and fostering new fund distribution partnerships. We look forward to continued industry participation in the platform. Wider adoption of the platform will help scale up to its full potential and create maximum value for market participants.”
Ms. Wu added, “In the long run, integrated fund platforms are also expected to expand fund distribution channels, allowing the Hong Kong fund market to participate more widely. This will help attract more diversified and sustainable local and cross-border capital and strengthen Hong Kong's position as a leading global wealth management center.”
According to information, the integrated fund platform is a comprehensive market infrastructure specially designed for retail fund distribution in Hong Kong. It connects fund managers, registered agents, distributors and other participants through standardized work processes and information exchange. This is one of the government's measures to link fintech to benefit the real economy in Hong Kong. It was first announced on November 2, 2023. The integrated fund platform operates on a business-to-business basis and is currently being rolled out in stages.