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Citi touts domestic mutual fund distribution as key to mining Chinese onshore wealth

Following Citi’s first domestic mutual funds transaction in China last week – earmarking it as the first foreign bank to do so – the American lender tells Asian Private Banker that a significant opportunity exists to secure onshore assets via the QDII (qualified domestic institutional investor) scheme. “We have observed an increasing trend of QDII mutual fund subscriptions in China…

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