Commercial Banks to Launch Fund Management Companies

March 31, 2005 | BY

clpstaff &clp articles

New rules now allow commercial banks to establish fund management companies. What do the new rules mean for banks and how will this affect China's fund management industry?

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By Christophe Han, Charles Qin and Stanley Cha, Llinks Law Office, Shanghai and Beijing

Following an extended period of solicitation of opinions and a heated debate on the issues of commercial bank's incorporation of fund management companies, the People's Bank of China (PBOC), the China Banking Regulatory Commission (CBRC) and the China Securities Regulatory Commission (CSRC) jointly formulated and promulgated theAdministration of Pilot Projects for the Establishment of Fund Management Companies by Commercial Banks Measures(the New Measures)(商业银行设立基金管理公司试点管理办法), to allow some pilot commercial banks to launch fund management companies.