Shanghai rises on hopes for new funds

The mainland's securities regulator has decided to simplify fund approval procedures to direct a massive capital inflow into the weak stock market, heightening investors' hopes for a strong government-orchestrated rally.

The China Securities Regulatory Commission told a media briefing on Thursday it would facilitate fundraisings by the country's 60 mutual fund houses as part of efforts to deepen the market-based reform.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1105693/shanghai-rises-hopes-new-funds