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Feedback on recent applications to the China Securities Regulatory Commission provides some clarity on what will be expected from foreign asset managers wishing to establish fund management companies in the Chinese domestic mutual fund market.
After accepting two initial applications by foreign capitalized asset managers to establish fund management companies (FMCs) on September 18, the China Securities Regulatory Commission (CSRC) recently provided feedback on the application materials submitted by the two foreign asset managers. The CSRC requested that Applicant 1 and Applicant 2 provide their respective responses within 30 working days, and upon reviewing their responses, the CSRC would then decide whether to allow these applications to proceed to next stage of consultations.