China Tightens Grip on Private Funds With New Monitoring Center

China is preparing to set up a new Fund Monitoring Center to centralize oversight of the country’s public and private funds, in what would mark one of the biggest regulatory overhauls for the asset management industry in years, Caixin has learned.

The new institution, approved for establishment under the China Securities Regulatory Commission, will focus in particular on centralized registration and monitoring of private fund ownership, according to people familiar with the matter.