Chinese Fund Managers Flock Overseas for AI Research — and Luxury Junkets

Chinese brokerages are aggressively organizing overseas research trips for their mutual fund clients. However, industry insiders told Caixin some of these excursions are raising compliance red flags due to illicit funding models and their morphing into luxury junkets.

Mutual fund managers are swarming global tech hubs to track AI supply chains, industry insiders noted. While some trips yield crucial intelligence, sources familiar with the matter said others have devolved into company-funded vacations featuring Las Vegas club visits, South Korean medical aesthetic procedures and FIFA World Cup matches.