Hartford Capital Ltd, a subsidiary of CGN Huasheng Investment Co Ltd, was licensed by the Securities and Futures Commission (SFC) of Hong Kong on Dec 4 to carry out Type 9 (Asset Management) regulated activities in Hong Kong.
According to the Securities and Futures Ordinance, the Type 9 (Asset Management) License is a regulated financial business license issued by the SFC to supervise financial services that manage investment portfolios or funds for clients with carte blanche.
ThisIt is the first SFC financial license that CGN has obtained outside of the Chinese mainland to issue, raise and manage funds in Hong Kong and offshore regions., like Nno other corporate treasury centers of Chinesea’s state-owned enterprises have done this.
At a new starting pointAs it enters a new business arena, CGN Huasheng Investment Co Ltd plans towill foster a professional team to assist in its expansion into the asset management businesses targeting CGN member companies and cooperative institutions.
This is expected to become a new sector for external profit growth that will help CGN realize capital maintenance and appreciation.