China launches first dedicated fund association

The launch of China’s first national fund management association yesterday was welcomed as a positive step for industry development, although doubts were raised over its potential influence. A host of senior managers from the nation’s 72 fund management firms attended the inaugural meeting in Beijing of the new China Fund Association (CFA), which will act as a sort of industry standards body. “Such a self-regulatory organisation is necessary,” suggests Lin Yixiang, chief executi…