Date
20 September 2017

More privately offered fund firms win licenses, paper says

A third batch of 50 privately offered fund companies have won licenses from the Asset Management Association of China to conduct investment securities, equities and venture business, bringing the total to 150, Economic Information Daily reported Wednesday. Everbright Financial Holding Asset Management Co. Ltd. (Shanghai) and White Rock Asset Management (Shanghai) Co. Ltd. are among the new licensees. The association, a self-regulated industy group, is aiming to improve the quality of service in the sector and shorten the time it takes to raise funds, the report said.

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