China Finalizes Rules to Overhaul Asset Management Trust Sector

China’s top financial regulator has finalized rules governing the 25 trillion yuan ($3.7 trillion) asset management trust sector, imposing investment limits and capping performance fees for 67 licensed trust companies.

The National Financial Regulatory Administration issued the rules Friday. They take effect Jan. 1, with firms given until the end of 2029 to rectify non-compliant products.