CSRC Official : Four Measures to Be Taken to Promote Development of Investment FundsIn a certain period in future, China will devote more energy in cultivating institutional investors by adopting all-round and extraordinary measures, said Jin Ying, vice secretary-general of China Securities Regulatory Commission (CSRC) on September 1 at the China Financial and Economic New Concept Symposium. The related departments will launch four important measures to develop the investment funds.The four measures are: First, to carry out the pilot program on the open-end funds as soon as possible and try to make open-end funds the mainstream of China's fund industry in the coming 5 years. Second, to gradually implement the registration system for the establishment and issuance of funds and create an environment conducive to bringing into play the new innovative vitality of market institutions; to promote the innovation of fund varieties suitable for insurance and social security capital and launch the bond market funds and currency market funds at appropriate time. Third, to study the possibility of expanding the business scope of fund management companies and allow them to engage in business of privately raised funds and trust assets management. Fourth, to loosen the restriction on the qualification for fund management company and fund initiator and gradually allow all kinds of institutions and natural persons to participate in the establishment of fund management company; to explore new equity structure for a fund management company and select some qualified fund management companies to get listed on the stock market. (Panorama) |
| People's Daily Online --- http://www.peopledaily.com.cn/english/ |