Red tape snarling fund house China FMC licence hopes
Foreign institutions applying for a mutual fund management company (FMC) licence face far more stringent requirements than private fund management permissions.
As China opens up its capital markets, many foreign institutions are eager to target the country's local investor base with mutual funds. But aspiring interntional asset managers have had their ambitions to gain mutual fund management company (FMC) licences stymied by strict regulatory requirements and intense local competition.
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