China private fund firms face clampdown: sources

Registrations of China private fund managers have reportedly been suspended in Beijing since Saturday as part of a tightening of industry regulation – which is viewed by some market observers as a positive move. According to local media reports yesterday, the Beijing Administration of Industry and Commerce (BAIC) on January 9 started to suspend approvals of firms registering using terms such as “investment”, “asset”, “capital”, “fund”, “wealth management”, “financial leasing” and …