China launches first dedicated fund association
The association is set up as a standards body to tackle issues blighting the industry such as distribution bottlenecks and high market costs.
The launch of China’s first national fund management association yesterday was welcomed as a positive step for industry development, although doubts were raised over its potential influence.
A host of senior managers from the nation’s 72 fund management firms attended the inaugural meeting in Beijing of the new China Fund Association (CFA), which will act as a sort of industry standards body.
“Such a self-regulatory organisation is necessary,” suggests Lin Yixiang, chief executi…
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