Bye-bye Beijing: Fund managers leave for Shanghai, Shenzhen

Of the first 10 Chinese fund management companies, six were located in Beijing. This was partly due to happenstance: many of their shareholders were Beijing-based securities firms. But it was also because Beijing offers close access to wealthy institutions that are potential customers. It is China’s second-largest centre for high-tech companies, another vein to mine. But ultimately Beijing has been a useful place to be because it is close to the China Securities Regulatory Commission …