M&G admits fears over China's corporate governance
Citing poor accounting standards, the firm is disinterested in directly investing in Chinese stocks, preferring to access the country's growth story via global companies, says fund manager Randeep Somel.
UK-based fund house M&G Investments has admitted that concerns over corporate governance standards in China has deterred it from investing directly in the country's equity market.
In London, Ashmore, BlackRock and HSBC have received renminbi-denominated qualified institutional investor licences to allow them to access China's onshore securities market directly after the city was handed a quota of Rmb80 billion ($13 billion) in October last year, as reported.
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