又有公募出海大动作！

Core Viewpoint - Xingsheng Global Fund has received approval to establish a subsidiary in Singapore, marking a significant step in the ongoing trend of Chinese public funds expanding overseas [1][2]. Group 1: Company Establishment - The China Securities Regulatory Commission (CSRC) approved Xingsheng Global Fund's application to set up Xingsheng Global Asset Management (Singapore) Co., Ltd. with a registered capital of 10 million Singapore dollars [2]. - The registration of the Singapore subsidiary must be completed within 12 months from the date of approval [1][2]. - The subsidiary will gradually develop its overseas business capabilities in research, investment, and client expansion [1][3]. Group 2: Regulatory Compliance - Xingsheng Global Fund is required to establish a comprehensive foreign exchange asset-liability risk management system and comply with relevant foreign exchange regulations [2]. - The subsidiary is restricted from engaging in non-financial activities and must not conduct lending or similar businesses [2]. Group 3: Industry Context - Since 2008, over 20 Chinese public fund companies have established overseas subsidiaries, with significant presence in Hong Kong, the United States, and Singapore [5]. - Other companies, such as Huatai-PineBridge and Southern Fund, have also received approvals for their Singapore subsidiaries, indicating a broader trend of international expansion among Chinese fund managers [5][6]. - The establishment of overseas subsidiaries is seen as a strategic move to enhance international competitiveness and facilitate capital market connectivity [6].