In stark contrast with the credit crisis and the associated volatility in North American and European equities markets in the summer of 2007, a quiet revolution was taking place in Chinese financial markets during the autumn of 2007.
In the space of a day, three of the leading Chinese fund management companies – China Southern Fund Management Co, China Asset Management Company and Harvest Fund Management Co – each raised $4bn (£1.94bn) from domestic investors, to form funds mandated for overseas investments through China’s qualified domestic institutional investors (QDII) regime.
