China Calls on Fund Managers to Back Innovation and Guard Against Hype

Chinese regulators issued a directive to investment fund managers. The guidance encourages allocating capital to genuine innovative projects. Authorities warned against chasing speculative concepts without substance. The statement aims to steer financing toward sustainable growth sectors. Officials highlighted the risk of over‑hyped ideas distorting markets. Fund managers are asked to perform rigorous due diligence on prospects. The move reflects China's broader push for high‑tech development. The announcement was reported by Dunya News.