Donghai approved as six fund firms wait in line
Competition is hotting up in China's funds industry, with the arrival of more bank-backed asset managers set to make life even more difficult for other players.
Given the challenges faced by China's onshore asset management industry, some might argue the last thing it needs is yet more fund houses plying their trade. Especially when the latest round of new and prospective entrants largely comprises bank-backed managers, which hold a significant advantage in the form of a ready-made distribution network.
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