China Changes Their Mutual Funds Policy For Public

China issued a rule allowing brokers and insurance companies selling mutual fund products to the public. The rules were issued by the regulator to increase the number of investor ins in the capital markets.

China securities regulator or the China Securities Regulatory Commission (CSRC) also allows the company to sell mutual funds personal finance manager. "Companies are eligible to submit applications starting in June 2013," said Guo Shuqing, Chairman of CSRC official website.

Regulation becomes the door for private financial managers in the mutual fund business. Rules were made ​​to increase the role of institutional investors currently account for 14% of China's stock market value.

Compare this with the developed countries whose institutional role between 50% -60%. "The new rule is an important step to build China's wealth management industry that is open, inclusive, and diverse," said the CSRC.