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Federal Reserve official Schmid said inf remains too high and is concerning.

Some wholly foreign‑owned publicly offered mutual fund companies in China are preparing to apply for investment‑advisory pilot qualifications, industry sources say; filings are at an early materials stage and there is no timetable. In June at the 2026 Lujiazui Forum CSRC chairman Wu Qing said regulators support foreign capital establishing wholly foreign‑owned or joint securities, fund and futures firms in China and encourage licensed foreign institutions to participate in expanded fund‑advisory pilots. Foreign participants say China’s asset‑management sector remains product‑sales driven and professional advisory is nascent; they contend moving advisory from product‑selling to an account‑centric, life‑cycle model could substantially improve investor fund ownership experience and that foreign firms may bring more developed advisory management expertise.