BEIJING , Sept. 19 (Xinhua) -- China's asset management businesses expanded at a slower rate in the first nine months of the year amid tightened regulation, according to industry data.
Assets under management totaled 54.09 trillion yuan (8.25 trillion U.S. dollars) as of Sept. 10, up 4.9 percent from the end of 2016, according to the self-regulated Asset Management Association of China (AMAC) on Tuesday.
In 2016, the annual growth rate of asset management businesses was more than 30 percent.
Compared with the end of 2016, the scale of publicly offered funds went up 22.3 percent to 11.2 trillion yuan , while the scale of private investment funds went up 31.2 percent to 10.25 trillion yuan.
During the same period, asset management businesses of fund subsidiaries shrank 24.7 percent while those of futures companies went down 24.3 percent.
The slower growth came as authorities stepped up efforts to contain risks arising from wealth management products, with major financial regulatory bodies rolling out policies to identify and punish illegal activities.
According to Hong Lei, head of AMAC, while the tightened regulation gradually takes effect, there are still issues which need to be solved , such as growing liquidity risks in asset management products.
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ACCRA, Aug. 9 (Xinhua) -- Ghana has the potential to derivefuller benefits beyond just revenue from its minerals and miningindustry, Benjamin Boakye , Executive Director for the Africa Centerfor Energy Policy (ACEP), observed here on Wednesday.
Speaking at a day's National Level Dialogue on MineralExtraction for Sustainable Development, Boakye underscored the needfor government to put in place the right policies and structures tomake the country derive better developmental benefits from themining sector.
"Ghana has more minerals beyond gold, bauxite and diamond, butwe have failed to plan properly to see other benefits beyondrevenue from the exploitation of these minerals," he said.
The executive director of the think tank which promotes goodgovernance in the extractive industry across Africa , argued that itwas time government started finding out and putting in place theright skills set, the right policies, the right regulatoryframework and incentives needed to make the sector morebeneficial.
"For instance, the country can tie the development of certainkey infrastructure in mineral-rich communities with the mininglicense, so that communities would not be deprived of developmentwhile mining goes on around them," Boakye urged.
On why Ghana had failed with minerals , the expert cited poorplanning for the industry, politics-led decision making, lack oftransparency on decisions and no planning for revenue.
He noted that mining communities also suffered because there waslittle or no discussion on alternative livelihoods for members ofthese communities who lost their farms, lands, houses and otherlivelihoods as a result of mining activities.
Ghana has large iron ore deposits in Sheini, near Tamale , 650 kmnorth of the capital, and the think tank believes the governmentand civil society must ensure that the right policies and systemsare put in place before attempts are made to mine the ore.
Pauline Anaman, Head of Policy at ACEP, urged government toinvest in the acquisition of geo-scientific data on all minerals inthe country since that would strengthen the country's positionduring negotiations with partners.
"With the geo-scientific data, the country can leverage on itsknowledge of what is to be expected in the ground to negotiatebetter terms with contractors," Anaman said. Enditem
BEIJING , March 18 (Xinhua) -- China's anti-waste campaign is being brought to the boil as central authorities issued a long and detailed circular calling on officials and the public to fight against widespread food waste.
The eight-point document, released by the General Office of the Communist Party of China Central Committee and the General Office of the State Council, is aimed to curb official extravagance at dinner tables and develop frugal diet habits among the public as well as make better use of leftovers and food materials.
With a large population and limited land resources, China has been facing a tight food supply-demand balance for a long period of time, but food waste remains rampant due to ostentatious lifestyles and lack of supervision, according to the circular.
The document outlines measures prohibiting too much money being spent on food among officials.
Officials are told to control the amount they spend on dinners in public affairs , and promote simple, healthy and economical dining.
Government departments, organizations and state-owned enterprises must publicize the amount they spend on dining for public supervision, according to the circular.
"Authorities are not allowed to organize banquets or guzzle under the name of convening meetings and training," it said.
China's anti-waste battle has been gathering steam since late 2012, when the new leadership announced "eight requirements" to improve Party work style and stamp out extravagance and bureaucracy.
The anti-waste campaign has impacted luxury food and gift industries in the past year.
A 2013 document ordered military soldiers to re-heat leftovers and keep away from fancy food.
In the latest circula.