China regulator grants RQFII licence to Mirae Asset's Hong Kong business.

Mirae Asset Global Investments (Hong Kong) may now carry out Renminbi-denominated equity and fixed income investments after receiving its RMB qualified foreign institutional investor accreditation from the China Securities and Regulatory Commission.

The licence, given 30 October 2013, gives foreign asset managers the opportunity to invest in China's onshore market. At about the same time as Mirae, China Everbright and JP Morgan Asset Management also received their RQFII licences.

Mirae Asset HK is part of Mirae Asset Global Investments Group, which operates in 12 countries and records $58.9 billion in assets under management as at 30 September 2013.