Funds domiciled in Jersey might soon be allowed to participate in the Qualified Foreign Institutional Investor and Qualified Domestic Institutional Investor programmes operated by China.

Jersey officials have signed a memorandum of understanding with Chinese regulators which, they say, paves the way for allowing Jersey-domiciled funds to participate in the Qualified Foreign Institutional Investor and Qualified Domestic Institutional Investor programmes operated by China, presenting Chinese high-net-worth investors with yet more international outlets.

The signing took place during a diplomatic visit to Beijing and Shanghai led by Jersey’s chief minister, senator Ian Gorst.

The MoU was signed by the Jersey Financial Services Commission and the China Securities Regulatory Commission, according to Jersey Finance, the promotional agency for Jersey’s financial sector.