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Chinese regulators target fund house subsidiaries to curtail shadow asset risks

Days after a top executive from a Shanghai investment firm, Zhongjin Capital Management, confessed on state television to operating what was effectively a Ponzi scheme, Chinese regulators have moved to slow down the expansion of fund house subsidiaries—a key channel for off-balance sheet loans. According to media reports, the Asset Management Association of China (AMAC), a self-regulated industry body that oversees private funds, will…

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