Group 1 - Foreign banks are increasingly participating in China's rapidly growing asset management market, with HSBC China announcing its first public fund custody business in the domestic market [1] - HSBC China provided custody services for the E Fund's Hong Kong Stock Connect Consumer Mixed Securities Investment Fund, marking it as the first domestic public fund product managed by a foreign bank [1] - The asset management industry in China is recognized as the second largest globally, presenting significant development opportunities [1] Group 2 - As of November 2025, there are 165 domestic public fund management institutions in China, with a total net asset value of 37.02 trillion yuan [2] - The collaboration between E Fund and HSBC China represents a strategic move towards diversifying product custody and distribution channels, enhancing the quality of development in the public fund industry [2] - The partnership aims to leverage each party's expertise to promote the openness and diversification of the public fund custody market [2]

Group 1 - HSBC China has launched its first public fund custody business in the domestic market, providing custody services for E Fund Management Co., Ltd.'s Hong Kong Stock Connect Consumer Mixed Securities Investment Fund [1] - The fund is the first domestic public fund product managed by a foreign bank, with HSBC China also acting as one of the distribution banks for the fund's initial public offering [1] - The public fund industry in China is experiencing rapid growth, with the total net asset value of domestic public funds reaching 37.02 trillion yuan as of November 2025 [1] Group 2 - E Fund's Vice President Wang Jun stated that the collaboration with HSBC China represents a significant step towards diversifying product custody and distribution channels [2] - HSBC China received approval for securities investment fund custody in October 2024 and officially launched its local fund custody business in 2025 [2] - HSBC has over 30 years of custody service experience in mainland China and provides custody services for various institutional clients, including Qualified Foreign Investors (QFI) and B-share overseas investors [3]