17 September 2019

CBRC encouraging private entities to buy into AMCs, paper says

The China Banking Regulatory Commission (CBRC) is encouraging private entities to invest in asset management companies (AMCs) set up by local governments, Shanghai Securities News reported Thursday. In a statement, the banking regulator is also said to have outlined thresholds for local government-owned AMCs, requiring them to have professional management team, paid-in registered capital of at least 1 billion yuan (US$164.66 billion), and well-established corporate governance and risk control systems, among other things.

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