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China Looking to Clean Up Private-Fund Industry

By Zhang Yu and Dong Tongjian
The State Council and China Securities Regulatory Commission (CSRC) are tightening rules in the private investor-fund industry to ensure that the elite high-risk products aren't marketed to those without the appropriate level of risk tolerance. Above, the CSRC building in Beijing is seen in January 2014. Photo: Visual China
The State Council and China Securities Regulatory Commission (CSRC) are tightening rules in the private investor-fund industry to ensure that the elite high-risk products aren't marketed to those without the appropriate level of risk tolerance. Above, the CSRC building in Beijing is seen in January 2014. Photo: Visual China

The State Council, China’s cabinet, is seeking to uproot improper practices in the growing private investment-fund industry to better protect investors and prevent hidden risks from increasing.

The State Council and China Securities Regulatory Commission (CSRC) on Wednesday issued draft rules aiming at cleaning up the industry. The public will have until Sept. 30 to submit opinions before the rules become final.

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