China fund association calls on managers to back market
As the government attempts to boost the stock market in various ways, China's fund industry association issues some supportive words of its own. But foreign analysts suggest the authorities will struggle to maintain the market's momentum
The Asset Management Association of China (Amac) has made a rallying call for domestic fund managers to continue to support mainland stocks, despite evidence of a bear market in June.
The association, which represents 95 mainland asset management firms, including all of the big names, calls for fund managers to take advantage of the buying opportunity that the equity market correction is now providing, in an official statement.
Meanwhile the People's Bank of China (PBOC) has i…
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