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China Announces 11 New Measures for Further Opening of Financial Industry

On July 20, 2019, The State Council of China unveiled eleven measures to further open financial industry (“11 Measures”). The 11 Measures cover the areas of financial credit rating, wealth management, pension management and currency brokerage.

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THE VARIABLE CAPITAL COMPANY (VCC) IN SINGAPORE

In further effort to augment the Fund Industry in Singapore, the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) launched the Variable Capital Compan