BEIJING, Oct. 31 (Xinhua) -- Standard Chartered China announced that it had been given the qualification by China Securities Regulatory Commission (CSRC) for providing custody service to securities investment funds.
It became the first foreign bank in China qualified for such service.
After that, Standard Chartered China can provide custody services for the local funds and assets management products of securities and futures operators at home and abroad.
Bill Winters, CEO with Standard Chartered said that the move showed China's expansion of financial market opening and relaxation of financial market access. It also reflected the commitment of Standard Chartered to support China's financial reform and innovation.
Zhang Xiaolei, president of Standard Chartered China said that it is a great encouragement for foreign banks, including Standard Chartered that China is expanding business scope of foreign institutes and accelerating the opening up of the financial industry. (Edited by Ma Xin, maxin11@xinhua.org)
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