What is one of the main challenges foreign fund managers face in China?

• Lack of technology

• Cultural differences

• High distribution fees

• Limited market access

Which company is mentioned as facing a mixture of challenges in China?

• T. Rowe Price

• BlackRock

• State Street

• Vanguard

What was the performance of BlackRock's New China Horizon fund since inception?

• Gained 20%

• Remained stable

• Lost 30%

• Gained 10%

What did the CSRC do to encourage the development of the fund industry?

• Banned new funds

• Restricted foreign entry

• Issued incentives

• Increased taxes

What is crucial for foreign fund managers to compete with local giants?

• Lower fees

• Increasing advertising

• Establishing a local brand

• Hiring more staff