Risk curbs on asset managers evoke claps

Analysts have applauded China's new policy on the asset management sector that aims at curbing risks in the financial system by raising thresholds for entrants and strengthening regulations over nonstandard products.

In the short term, they said, shares of companies in certain financial services could fluctuate, but the move will bolster investor confidence in the long run.

The central bank issued the guidelines on Nov 17 to regulate asset management businesses more strictly.