19 April 2019

Manulife plans to join RQFII program in Taiwan, HKEJ says

Manulife Financial Corp. (00945.HK) plans to join the Renminbi Qualified Foreign Institutional Investor program in Taiwan to tap the growing business opportunities presented by the internationalization of the Chinese currency, the Hong Kong Economic Journal reported Tuesday, citing Michael Huddart, president of the company’s Greater China operations. Taiwan has been granted a 100 billion yuan (US$16.33 billion) quota under the RQFII program but has to wait until the cross-strait service agreement is approved by its parliament, the report said. Meanwhile, Huddart said he expects sales of insurance products in mainland China to post double-digit growth in value, adding that the company will strengthen cooperation with banks to sell such products.

– Contact HKEJ [email protected]




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