Mismanagement leads to investment loss at wealth fund

The CIC is keen to invest more across the entire value chain of the agriculture sector in partnership with

Former CSRC advisor: consider upgrading QFII

China grants more investment quotas to QFII,RQFII

governments, multilateral organizations and like-minded institutional investors, its chairman Ding Xuedong said in an opinion piece published in the Financial Times on Tuesday.

"We believe the agriculture sector offers stability, a way of hedging against inflation and a device for spreading risk," said Ding.

During the process of auditing two large financial institutions last year, the NAO uncovered several problems including irregularities in the granting of loans at Bank of China Ltd and the Agricultural Development Bank of China.

The auditors suggested that the relevant financial institutions should optimize their credit structure, enhance their overseas investment ability, strengthen post-investment management and risk control, and also intensify efforts to review credit to prevent risks, and improve internal financial management system.

The three financial institutions attached great importance to these problems and took corrective action by revising their workflow and improving the working mechanism. By the end of May, they had basically rectified the problems identified by the auditors, the NAO said.