Beijing has told global fund managers that have recently started operating independently in China that they can’t offer products that invest in global markets to wealthy local customers, according to executives from two global firms.
The verbal instruction given to foreign money managers by Chinese market regulators, known as “window guidance,” is the latest example both of Beijing’s determination to support its domestic financial markets, and of its continued wariness of rapid capital flight from the country. Eleven global investment firms, including ...
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First Published: Wed, March 14 2018. 12:02 IST
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