(China Alert) CSRC pumps the brakes on FMC subs

  • CSRC, FMC
-CSRC is working on draft rules to tame FMC subsidiary growth -A limited grace period has been incorporated into the draft -We believe the final rules will be enforced shortly Update: CSRC’s FMC subsidiary draft rules have been reported. The regulator appears to be making a concerted move to tame loan and channel business being […]
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China Dashboard May 2016

An overview of the Chinese financial sector of April 2016 that covers topics including: fund flows, regulatory updates, cross border activities, capital markets, insurance sector, mutual fund sector, banks, trust sector, brokerage sector and private (hedge) funds. These updates are further broken down by our analysis and data. Full versions of our publications are for clients only,  if […]
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(China Alert) Bridgewater (quietly) defies the China critics

  • Bridgewater, WFOE
-The world’s largest hedge fund manager becomes the third investment management WFOE in China -The Shanghai-based platform was capitalized at nearly USD8m, well above the more typical level of capital -The expectation is for Bridgewater to move quickly and take full advantage of fixed income market reforms Update: With absolutely no fanfare, the world’s largest […]
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(China Alert) FMC profitability: Institutional demand boosts margins

  • FMC, mutual fund sector
-Strong institutional flows drive mutual fund profit growth -Product strategy is shifting to cater to this demand -Sticky AUM should lead to more stable dividend payments for foreign partners Update: The release of China’s mutual fund industry annual results paints a bright picture. Based on Z-Ben Advisors’ calculations, profit margins averaged 28.9% in 2015, up […]
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Strategic Outlook – The China Rankings (April 2016)

Z-Ben Advisors is often asked a simple but important question: Who is doing China right? In our view, only a methodical assessment of strategies and results can answer this. Our 2016 China Rankings report gave readers insight into the positioning of global firms. This Strategic Outlook delves deeper into our findings, and assesses the strategies […]
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Z-Ben China Dashboard April 2016

An overview of the Chinese financial sector of April 2016 that covers topics including: fund flows, regulatory updates, cross border activities, capital markets, insurance sector, mutual fund sector, banks, trust sector, brokerage sector and private (hedge) funds. These updates are further broken down by our analysis and data. For more information on this or other reports, please feel […]
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(China Alert) RMB access upgraded

  • QFII, rmb, RQFII
-PBoC, SAFE and CSRC released details on changes to inbound access -Harmonization across QFII and RQFII is closer than ever -Flexibility will significantly impact competitive dynamics Update: China’s inbound investment programs are moving toward a shared open architecture. Over the weekend, PBoC, SAFE and CSRC held a joint training event to give foreign participants some […]
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(China Alert) Make a name for yourself (!)

  • AMAC, Copycat, Name
-Chinese firms are imitating global firms’ names and brands -Copycat scandals and bankruptcies onshore could harm brand image -Managers should take action to defend their names Update: Z-Ben Advisors has long advocated the importance of company branding and active marketing when entering and engaging with the Chinese market. This Alert further highlights one particular, and […]
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(China Alert) Chinese pensions: Roadmap to NCSSF assets

  • pensions
-New guidelines make more Chinese pension assets more accessible -Onshore NCSSF assets will soon be able to be invested overseas -Asset managers are already making moves to win NCSSF mandates Update: The first and most important step in giving offshore asset managers a larger slice of National Social Security Fund (NSSF) pension funds has just […]
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Strategic Outlook: China myths – A local perspective

  • myths
Firms marketing China products face a common hurdle in crafting new strategies: negative – sometimes wildly negative – investor  sentiment. Shaping this distrust are a number of long-running myths about the Chinese market. Currently on rotation are RMB devaluation and capital flight, but the other usual suspects – debt, GDP and property – take turns […]
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