China’s financial regulators have called some of the world’s largest and most significant investors to a symposium in an effort to shore up confidence in its funds industry.
According to a report by Reuters, the meeting will take place in Beijing on Friday and will reportedly focus on the challenges facing US dollar-denominated and other overseas investment firms operating in China.
It has been organised by the Asset Management Association of China, the industry’s self-regulatory body, and attendees will be addressed by Fang Xinghai, vice chairman of the China Securities Regulatory Commission.
The attendees will include large global and domestic fund managers, private equity firms, sovereign wealth funds and pension funds.
Sources cited by Reuters stated that such meetings are rare.
The reported symposium comes at a time when confidence in the Chinese economy is waning among overseas banks and asset managers.
The concerns are largely two-fold, the underwhelming post-Covid performance of the Chinese economy, which grew by just 3% in 2022 and worsening geopolitical relationships, with the US especially.
The reported meeting comes just days after some of the biggest mutual funds providers operating in China, both domestic and global, slashed their investor fees on the basis of a regulatory mandate designed to encourage more investor participation.
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