10,000 hedge funds shut down in China

ReutersNewsPublished: August 2, 20164 views
Published: August 2, 2016

Beijing has announced it's revoked licences and shut down operations at thousands of hedge funds across the country, as it takes on 'phantom managers' who use them as fronts for illegal business. The government wants to clean up its financial sector, but as Grahanm Mackay reports, the knee-jerk reaction has its drawbacks.

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