US funds industry seeks China reform

The Washington, DC-based Investment Company Institute, the lobby group for AmericaÆs mutual funds industry, has requested the United States Congress to push for greater openings in ChinaÆs funds activity.Paul Schott Stevens, president and CEO at ICI, last week went before the Committee on Financial Services in the US House of Representatives, which is chaired by Barney Frank of Massachusetts (Democrat).The committee is holding hearings examining US interests in the reform of ChinaÆs f…