Jersey, China sign memo on finance

The China Securities Regulatory Commission (CSRC) signed a Memorandum of Understanding with the Jersey Financial Services Commission (JFSC) on Wednesday, providing another vehicle for China's enterprises to enter overseas markets.

The memorandum will provide the basis for a framework of cooperation and exchange of information between the two sets of authorities in relation to securities and futures business.

Analysts said it also will boost inbound and outbound investments in several ways. The MoU will be the first step in allowing Jersey-domiciled funds to participate in the QFII/QDII (Qualified Foreign Institutional Investor/Qualified Domestic Institutional Investor) program.