With China's anticipated entry into World Trade Organization WTO, the China asset management industry will be integrated into the global financial system, says Long Xiao Bo, chief executive officer of Da Cheng. This letter of intent would enable Da Cheng to step toward that direction. Da Cheng and DeAM will be able to cooperate in many areas including investment management, product development and marketing strategy.
Under the terms of WTO entry agreement, China will permit minority foreign-owned joint ventures to engage in fund management on the same...
