China's fund management industry forges ahead

The most recent approval is Chang’an Fund Management, which is the 67th fund management company to receive authorisation. "Chang’an is now the fifth FMC to get the official nod so far this year. That compares to just three fund management companies approved in the entire year of 2010," says Z-Ben Advisors, which suggests the China Securities Regulatory Commission (CSRC) is adopting a more liberal approach to approving fund management companies. "All things considered, we interpret these facts to suggest that CSRC has now adopted a more liberal approach in approving fund management companies...