East meets West
The first foreign fund managers and institutional investors have been approved to enter the Chinese market, but development of the country’s funds market is likely to be a gradual process, writes Mia Trinephi
China’s fund management business is undergoing a major shift. A handful of Sino-foreign fund management joint ventures are now licensed to operate funds in the Chinese market, giving foreign institutions their first chance to tap the estimated 10 trillion renminbi ($1.2 trillion) in private savings. At the same time, the first foreign institutional investors have been approved to trade domestic Chinese shares, with more waiting in the wings. Both initiatives could lead to a gradual
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