China private fund deregistrations double amid regulatory crackdown

China private fund deregistrations double amid regulatory crackdown

FILE PHOTO: A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. REUTERS/Tingshu Wang/File Photo

Chinese private funds have been losing their licences at a faster pace this year than in 2022, data shows, as regulators tighten scrutiny on the $2.9 trillion industry to curb operational irregularities.