CSRC clarifies mutual fund rules

The steps to establishing new fund management JVs are becoming clear, but the hurdle bar is set high, according to Deacons.

The law firm Deacons has just released a summary and commentary upon recent regulations enacted by the China Securities Regulatory Commission regarding opening the fund management industry to foreigners, and it suggests in general that considerable progress has been achieved in clearing away the ambiguity. Fund management is at the forefront of new sectors foreign firms can participate in now that China has joined the World Trade Organization, and foreign players have been eager to get a concrete idea of what they can and cannot do.

Nonetheless, while foreign fund managers can now get a better look at what they need to do, they will find the process difficult and expensive. One point certain to...

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