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The momentum to tighten regulation of...>

CHINA PRESS
CHINA PRESS: The momentum to tighten regulation of the asset management sector
will not change and regulators will remove asset management risks in an orderly
and steady manner, the Financial News, a journal run by the People's Bank of
China said in a commentary Thursday. Vested interest groups are trying to
obstruct the launch of the new regulations with the excuse that the new rules
would cause systemic risks, the commentary warned. Financial institutions will
suffer some short-term pain under the new regulations, and even see their asset
management businesses shrink, but regulators will not change course considering
the excessive financial market volatility that was triggered by the messy asset
management sector in recent years, the commentary stressed. (Financial News)

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