Local asset management companies........>

CHINA PRESS: Local asset management companies (AMCs) have developed rapidly

because of increased demand and government policy support, but now governments

are looking to enact regulations to control activities, Economic Information

Daily, a newspaper under the official Xinhua News Agency, reported Wednesday.

Various cities and provinces are preparing to issue new regulations on the

sector, with Jiangxi and Shandong provinces recently announcing interim

regulations. To date, some 50 new provincial and municipal AMCs have been

established, the newspaper said. The regulations aim to control risks and direct

AMCs to focus on their main businesses instead of other financing operations.

The newspaper also argued that standardized national regulations should be

created. (Economic Information Daily)