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posted by on Sunday January 08 2017, @01:03AM   Printer-friendly
from the if-it-makes-money-we'll-do-it dept.

Foreign firms can now launch wholly-owned investment funds in China:

China has opened the way for foreign asset managers to begin launching private investment funds in the country through local subsidiaries, by publishing long-awaited registration rules for such investments. The step removes a key technical hurdle to foreign entry 1-1/2 years after China agreed to deregulate its private fund market as part of commitments made during the U.S.-China 8th Strategic and Economic Dialogue in June, 2015.

[...] However, foreign asset managers will only be permitted to trade via China-based systems and as long as their onshore and offshore businesses are separate. In the mutual fund space, foreigners will still need to operate through minority-owned ventures with Chinese partners. The new rules came two days after Fidelity International became the first global asset manager allowed to launch investment products in China through a wholly-owned local subsidiary, after registering with [the Asset Management Association of China (AMAC)].

From an earlier story about Fidelity:

Since 2004, Fidelity has been offering offshore capabilities to Chinese investors through partnering with banks under the Qualified Domestic Institutional Investor (QDII) scheme, and "this latest development expands our capabilities to support Chinese clients' needs to invest both onshore and offshore." Fidelity also owns a quota of $1.2 billion under the Qualified Foreign Institutional Investor (QFII) scheme, which allows foreign institutions to buy Chinese stocks and bonds.


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  • (Score: 0) by Anonymous Coward on Sunday January 08 2017, @04:03AM

    by Anonymous Coward on Sunday January 08 2017, @04:03AM (#450936)

    I've heard that the Chinese are historically, very prone to gambling addiction? Plenty of hits on related searches, for example,
        http://www.afr.com/markets/equity-markets/chinas-new-gambling-addiction-20150701-gi2pbt [afr.com]
    Wall Street companies should clean up.

  • (Score: 0) by Anonymous Coward on Monday January 09 2017, @11:33PM

    by Anonymous Coward on Monday January 09 2017, @11:33PM (#451742)

    I have heard the same regarding Vietnamese, Korean, Laos, Thai, Hmong, Mien, and probably a dozen other asian minorities I can't remember the names of.

    The exact reasons vary, but a lot of it is related to superstitions around fortune. I imagine if you looked at the population of non-Asian americans who gambled or were gambling addicted, you would see a signficiant percent of them are also superstitious or addicted to some form of fortune telling/seeking.