SHANGHAI (Reuters) – China’s securities regulator said on Saturday that it would support mutual fund managers to enable them to lower fund product fees.
In a statement, the China Securities Regulatory Commission said it would optimise the mutual-fund fee scheme and steadily lower the industry’s comprehensive fee rates.
The statement came as performance of China’s stock market falters amid a weak recovery of the world’s second-largest economy, with China’s blue-chip CSI300 index down more than 13% in the past 12 months.
(Reporting by Jason Xue and Shanghai Newsroom; Editing by Shri Navaratnam and William Mallard)
