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China to Launch Open-ended Funds Soon
China's open-ended securities investment funds will be launched soon with the approval of the State Council, top securities regulator Zhou Xiaochuan has said.
Zhou, chairman of the China Securities Regulatory Commission (CSRC), was quoted in Tuesday's China Securities as saying that the move will offer new investment tools for residents and help increase the capital supply to the market.
Addressing a business forum at Qinghua University Monday in Beijing, Zhou also disclosed that preparations for the second board market are actively underway, dispelling rumors that the proposed market had been stalled amid controversies.
He pledged again that the regulatory body will decrease its administrative interference in the market, especially in pricing, which should be decided by the market.
He revealed that the quota for initial public offerings assigned to regions and ministries will be totally abolished by March of this year.
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