Only two companies were allowed to register as private fund managers (PFMs) in China in May, down from 139 the previous month, as tighter regulations governing the $2.9 trillion industry took effect on the first day of May.
Caixin
China fund manager approvals plummet following new rules
Just two companies registered in May, down from 139 in previous month
Chinese authorities have tightened rules for companies seeking to register as private fund managers, concerned about growing financial risks in the lightly regulated industry. © Reuters
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