SAIF’s Andrew Yan Says Chinese Government Funds Distort Market

Andrew Yan, managing partner of US$4.9 billion-under-management Chinese private equity firm SAIF Partners, has warned that the growth of government-backed investment funds is distorting and potentially destabilizing the market.

"Government-backed funds are not market driven and do not follow market oriented pricing norms. With more government guidance funds and government-backed vehicles, the market will become increasingly disordered," Yan told Chinese media.

The former World Bank economist and ex-executive at AIG Asian Infrastructure Funds also warned of the potential financial risks of government-backed funds. "These funds are all financed or guaranteed by local governments' fiscal budgets, with some even receiving financing from banks. These type of

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