China’s fund industry almost doubled in size in 2015 as a series of interest rate cuts spurred rapid growth of money market funds.
However, Chinese investors attempting to get their money out of the country are increasingly running up against tight restrictions imposed by Beijing.
Demand for Qualified Domestic Institutional Investor funds, which allow mainland Chinese investors to access overseas markets, has “surged”, according to Moody’s, the credit rating agency, which said demand was driven by China’s stock market crash in 2015 and the weakening of the renminbi.
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