Mutual funds on the rise in China

16:19, December 03, 2010      

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Mutual funds are on the rise in China. As of October, the total assets managed by China's 62 fund companies reached 3 trillion yuan. And the approval process for new funds will speed up, says Yao Gang, vice chairman of the China Securities Regulatory Commission.

The number of newly established funds has increased about 8 percent this year compared with last year, reaching 103. Yao also says the structure of China's fund products have greatly improved.

During the first 10 months of the year, 35 joint venture fund companies entered the market. Collectively, they manage nearly 50 percent of the total assets in the industry.

Source: CNTV.cn

(Editor:李佳)

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