In China, all mutual funds (including closed-end and open-end funds) are contractual funds. As trustees, fund management companies manage the assets of fund holders, and fund holders are not the same as shareholders of fund management companies. Fund management companies are all limited liability companies with diversified shareholding structure, and state-owned enterprises, private enterprises and foreign-funded enterprises are all shareholders.
As a participant in the securities market, fund management companies are bound by relevant laws and regulations and supervised by the CSRC, and their internal control system is more perfect than that of other industry companies. Of course, these are passive measures, which cannot fundamentally eliminate insider control and manipulation by major shareholders.
Relevant information can be searched online by yourself, such as the keyword "fund management company"+"corporate governance structure"