Rules hamper China's financial sector opening

Hong Kong

IN the last two years, more than 30 global asset managers have been awarded licences to set up wholly-owned units in China as they sought a share of the country's US$1.5 trillion private fund management market.

Yet only about six of those asset managers - a group that includes the likes of Aberdeen Standard Investments, Invesco and Vanguard - have so far managed to come closer to getting their first funds off the ground.