Private offering institutions apply for registration

A total of 2,375 private offering institutions have applied for registration in the industry association, and 100 have completed all of the procedures, the China Securities Regulatory Commission said on Friday.

The commission said on March 7 that Chinese private offering fund managers should register at the Asset Management Association of China before the end of April, otherwise they cannot engage in related investment activities.

Chinese private offering funds can open security accounts and invest in the A-share market, according to a statement from China Securities Depository and Clearing Co Ltd on Tuesday.

The statement also said private offering fund managers cannot apply to open accounts for funds that specialize in subscribing new shares or investing in stocks under special treatment.

Previously, private offering funds could only have security accounts under the names of their companies or trust products, and the operational cost was high.