Access to financial asset management firms further eased

China plans to further broaden access for overseas investors in financial asset management companies, according to a set of new policy measures announced by the National Financial Regulatory Administration on Tuesday. 

The new policy, which will take effect on November 10, allows overseas non-financial institutions to invest in financial asset management companies in China, and also abolishes the total assets requirement for overseas financial institutions to be investors of financial asset management companies. 

Covering a total of 204 items, the newly announced regulation, officially named as "implementation measures on administrative licensing for non-banking financial institutions", also simplifies the bond issuance and qualification approval procedures for personnel appointment.

Based on experiences accumulated in the administrative licensing work of non-banking institutions in recent years, the new policy also strengthens the review on shareholder qualifications and improves conditions and procedures for administrative licensing.

liuzhihua@chinadaily.com.cn