Business & Finance
05 January 2024, 2:05 am 1 minute
Reuters exclusively reported that Beijing has informally asked some money managers in China to prioritise the launch of equity funds over other products like bond funds, as authorities scramble to revive its lagging stock market.
Market Impact
In 2023, 334 new equity funds were launched in China, down 22% from 2022 and 49% from 2021, according to data from Shanghai-based Z-Ben Advisors, a funds industry consulting firm. The proceeds raised by these funds also dropped 39% and 89% from 2022 and 2021, respectively, to 137.5 billion yuan ($19.18 billion).
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceFinancial Services
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story