China’s securities authority has committed to ongoing trials of fund investment advisory services, as part of broader efforts to reform the Chinese finance sector.
The China Securities Regulatory Commission (CSRC) recently launched a second round of fund investment advisory trials, following their initial launch in October 2019.
“CSRC is currently continuing to expand fund investment advisory business trials, and is currently continuing to launch a second round of trial institutions, as well as concurrently undertaking trial assessments, and driving work for the normalisation of trials,” said CSRC spokesperson Gan Li (高莉).
According to CSRC a total of 18 institutions have obtained qualifications to participate in the trials, which currently involve assets of over 50 billion yuan and serve around 2.5 million Chinese investors.
Gao said that the trials had served to “continually strengthen household wealth management services.