More foreign FMC partners tipped to exit China

In an indication of how early optimism has evaporated, the majority of joint-venture FMCs in China forecast that some foreign firms will exit as the number of domestic players doubles within three years. At present there are 36 foreign firms engaged in joint-venture fund management in China, and just 26 domestic firms. But a major shift is forecast by 2014, when it is anticipated there will be 45 foreign firms and 50 local companies operating in the sector. Moreover, 70% of resp…