China’s securities regulator has announced it will abolish limits on foreign ownership of fund management companies in the country starting from April 2020, reported the Financial Times.
The announcement provides a definite timeframe for global asset managers that are already making preparations to enter China’s retail fund market, which is considered a big opportunity by foreign companies that have been eyeing the trillion-dollar market.
“CSRC will continue to implement China’s opening-up measures, actively boost the opening up of China’s capital markets and continue to approve the establishment and change of control of fund firms and securities firms, in line with law and regulations,” the statement read.