***********************************************
Mainland financial planner Noah (China) Holdings Ltd (Noah China) announced today (February 21) the opening of its Hong Kong subsidiary Noah Holdings (Hong Kong) Ltd, which is poised to cater to the demands of its Asian clients.
Noah Holdings (Hong Kong) Ltd is the wholly-owned subsidiary of Noah China. It has been licensed by the Securities and Futures Commission to provide investment advisory services. Noah China's clients are mainly high-net-worth investors in Asia. It is the first Mainland Chinese independent financial institution with a subsidiary in Hong Kong, and the only such company listed on the New York Stock Exchange.
Noah Holdings (Hong Kong) Ltd's Director, Ms Chia-Yue Chang, said that the group is eyeing Hong Kong's gateway position between Mainland China's financial markets and the global financial world as a way of expanding its business. Hong Kong's free flow of information and international exposure, plus its mature financial regulatory and legal frameworks, attracted the company to set up in the city in order to expand its Asian business.
Ms Chang commented, "Hong Kong has a concentration of global financial institutions, with many world-renowned investment banks and investment funds operating subsidiaries here. Our Hong Kong subsidiary enables us to introduce more diverse global financial investment products for our clients and reduce systemic risks."
The Associate Director-General of Invest Hong Kong, Mr Charles Ng, welcomed the opening of Noah Holdings (Hong Kong) Ltd, which he said will offer the market a wider array of wealth management planning services. He said, "With a mature financial system, effective regulatory control and a high level of transparency in the market, Hong Kong offers a broad range of financial products for investors to choose from. It is an ideal location for those in the wealth management business to thrive."
About Noah (China) Holdings Ltd
Noah (China) Holdings Ltd was set up in 2005 with its headquarters in Shanghai. It specialises in offering comprehensive advice on investment for high-net-worth investors in Mainland China. As at September 30, 2011, the company had operations in 53 Mainland cities including Shanghai, Beijing, Guangzhou, Qingdao, Chengdu and more, with over 500 qualified financial advisors. For more information, please visit www.noahwm.com.
About Invest Hong Kong
Invest Hong Kong is the department of the Hong Kong Special Administrative Region Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. In its 12th year of operation, Invest Hong Kong has completed over 2 400 investment projects creating more than more than 29 000 new jobs in the first year of operation or expansion and $62 billion of investment. For more information, please visit www.investhk.gov.hk.
Ends/Tuesday, February 21, 2012
Issued at HKT 17:28
NNNN
