– With 123 FMCs currently, there may be over 150 on the Mainland by 2020.
– There is a bottleneck in approvals with many new FMC applications in the pipeline.

Update: Last week, State Council committed to allowing majority-foreign-owned FMCs in China, with some as early as within the next 12 months. This week, we look at what kind of industry landscape these new players will be facing. Although Z-Ben Advisors believes the existing market is a guide for assessing opportunity onshore, there is a whole competitive plane yet to be born: firms in the application pipeline. An already crowded landscape is about to become jam-packed. Now that entering the industry is fast becoming reality for global managers, practicalities are the next consideration.

Z-Ben Analysis

At our last count, the number of firms in the FMC approval pipeline stood at …

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