At the end of October, 2019, the Department of Fund and Intermediary Supervision of the China Securities Regulatory Commission (“CSRC”) promulgated the Notice on the Pilot Implementation of the Public Offered Mutual Fund Investment Consulting Business (《关于做好公开募集证券投资基金投资顾问业务试点工作的通知》, the “Notice”) and the mutual fund investment consulting business (“MF Consulting Business”) is officially put into pilot implementation.
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