Chinese fund withdrawals accelerate

Joint investment funds in China are experiencing their largest closure wave in eight years, as declining returns and investor withdrawals have led to the liquidation of more than 256 funds so far this year, with expectations to close over 300 funds by the end of the year — the highest number since 2018. The industry is gradually affected after a strong start, and the decline is attributed to poor performance, a law mandating the closure of funds with low-asset holdings, and increased liquidations of sponsor-backed bonds, especially those that fail to meet asset requirements after three years. Despite the emergence of new products, the market remains saturated, and the sector faces challenges in achieving growth amid weak demand and market volatility, with the CSI 300 Index declining by 6% this year.

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