国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

Investment channels to be expanded

By Wu Yiyao in Shanghai (China Daily) Updated: 2012-12-28 10:49

New program will allow commercial banks to set up wealth management companies next year

Allowing foreign banks, insurers and other institutions to sell fund products will benefit the fund industry in the coming year, professionals said in response to information the regulator released about the industry in recent weeks.

Investment channels to be expanded

A visitor reads a fund product brochure at a fair in Shanghai. A test program will allow more banks to set up fund management companies. Pei Xin / For China Daily

The China Securities Regulatory Commission, the country's securities regulator, said on Tuesday that a test program approved by the State Council, China's cabinet, may allow more commercial banks to set up fund management companies.

Having more banks participate in the program will help develop channels through which savings can be transferred in an orderly way to the capital market, increasing the number of institutional investors, boosting the development of the fund industry and bringing more experience to the operation of urban commercial banks, the regulator said.

Li Ying, head of the commission's fund department, said in a conference call on Dec 18 that fund investment and fund sales will undergo significant changes, and that current amendments to the Securities Investment Fund Law are paving the way for the transformation.

Li said a wide variety of financial services institutions, including foreign banks, futures companies, insurers, insurance brokers and agents, will be allowed to sell fund products.

The current sellers include fund management companies, commercial banks, securities investment companies, securities fund companies and independent fund-sales institutions.

The issuance of fund products has been difficult in recent months amid the gloomy performance of the country's A-share market, said Luo Jingyan, a wealth manager with Shanghai Huashen Investment Consultancy Co Ltd.

The fund industry has also seen the size of its workforce decrease this year.

It was a bad year for almost everyone in the industry.

The poor performance of many fund products severely dampened investor confidence, and professionals in the industry saw their incomes decrease by up to 70 percent, said Tan Yanjun, a former fund product channel manager who quit her job in November.

"We have observed that fund products are seeing negative annual yields that may be as bad as 30 percent, and some investors have even closed their accounts in dismay," Luo said.

Luo said fund companies that are set up by banks tend to have a higher share of the market, in part because such institutions have more opportunities to recommend fund products to potential buyers.

wuyiyao@chinadaily.com.cn

Hot Topics

Editor's Picks
...
秦安县| 石河子市| 五指山市| 盐池县| 平山县| 吴堡县| 长寿区| 延津县| 滨海县| 沙河市| 德江县| 赤壁市| 溧阳市| 星座| 石泉县| 竹山县| 永康市| 皮山县| 湘阴县| 宁城县| 洱源县| 呼玛县| 温泉县| 平邑县| 和硕县| 海盐县| 峨眉山市| 依安县| 贵阳市| 磴口县| 博罗县| 镇宁| 商城县| 安塞县| 奉贤区| 和平县| 青河县| 鄂托克旗| 高州市| 昭苏县| 古交市|