Chinese fund managers under attack

CHINA - A Chinese stock market regulator has criticised several fund managers, accusing them of exploiting regulatory loopholes to enrich themselves and their companies at the expense of the public.

The criticism came in an angry regulator's letter written by Zhang Jinghua, the official in charge of fund management at the China Securities and Regulatory Commission (CSRC). Mr Zhang said he was "angry" and "astonished" that several funds had applied to buy shares with a value much higher than th