Chinese fund industry needs benchmarks

The two stock exchanges are being urged to create an all-China stock index.

 Jiashein English, Harvest Fund Management has a problem. It wants to launch a value fund. Others exist but fail to clearly define the concept of a stocks value, says Zhao Xue-jun, general manager in Beijing. Harvest is developing a system to screen stocks based on their price-to-book ratio along international standards. But when this product is launched, investors will have no way of discriminating this strategy against other so-called value funds.

China lacks benchmarks because...

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