6 public fund companies have been approved to conduct Fund of Funds (FOF) business in China.
China Securities Regulatory Commission released the first batch of licensed public FOFs earlier in September.
An FOF is an investment strategy of holding a portfolio containing different investment funds instead of investing directly in bonds, stocks and other types of securities.
By June of 2017, the overall scale of China's public funds market had exceeded 10 trillion yuan, or 1.5 trillion U.S. dollars.
For more on the issue, the Beijing Hour's Shane Bigham spoke earlier with Cao Can, CRI's financial analyst.
