Hong Kong's Securities and Futures Commission said it welcomed the publication of the "Hong Kong Mutual Recognition Fund Management Regulations (Revised Draft) " to promote the implementation of enhanced mutual recognition arrangements. The proposed amendments include relaxing the restrictions on the proportion of Hong Kong mutual recognition funds sold in the mainland and allowing Hong Kong mutual recognition funds to delegate investment management functions to overseas asset management institutions with the same group as the manager. At present, the scale of mutual recognition funds sold in the opposite market cannot exceed 50% of the total assets of the fund. After the optimization, this ratio limit will be relaxed to 80%. The Hong Kong Securities Supervision Commission will work closely together to promote the formulation and implementation of relevant measures. The details of the implementation of the enhanced mutual recognition arrangement and the date of official implementation will be further announced in due course. Cross-border fund mutual recognition is a mature institutional arrangement under the opening of the international asset management market. As early as July 1, 2015, the China Securities Supervision Commission and the Hong Kong Securities Supervision Commission launched mutual recognition of funds, allowing mainland and Hong Kong funds that meet certain conditions to obtain recognition or license to sell in each other's markets to public investors in accordance with legal procedures.