Asset managers to gain more leeway

Securities market access set to be widened in a more gradual manner

China will continue to open the onshore securities market to foreign asset managers and will grant them wider access to the market in a gradual manner, said an official of the Asset Management Association of China.

The official was responding to a media report saying that the Chinese securities regulator recently barred foreign asset managers from selling products that invest in global markets to local wealthy customers through "verbal instruction".