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China Prepares First Fund Management JV
A special preparatory work team was established Wednesday in Shanghai, marking the start of China's first fund management joint venture.
The team, consisting of experts from China's Huaan Fund Management Company and international financial giant J. P. Morgan, will joint hands in preparing to set up fund joint ventures after China issues the relevant laws and regulations.
Han Fanghe, general manager of the Huaan Fund Management Company, said that China's fledgling fund industry will face many difficulties and challenges after the country enters the World Trade Organization.
Chinese fund companies have to learn from the experience of their foreign counterparts in terms of investment, management, human resources, market environment and legal supervision, Han said.
William B. Harrison, a representative of J. P. Morgan, said that he has been very impressed with the development and huge potential of China's fund industry in recent years.
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