Tim Buckley became CEO of vanguard in 2018 as political relations between the US and China deteriorated.American financial giant Vanguard Group has halted plans to initiate a mutual-fund business in China. The Malvern, Pa., firm told staffers in recent days that it was pausing months of preparations to sell its funds to Chinese consumers. The firm had been planning to seek Beijing’s approval for business. The $7.2 trillion asset manager has for years planned to introduce low-cost index funds to China, a radical idea in a country where investors prize funds that select and choose investments to beat markets. But Vanguard executives have now decided that building a meaningful presence in China’s fund industry would take longer than they anticipated. The shift will result in a small number of jobs being eliminated. Vanguard’s decision stands in contrast to other Wall Street firms, which are continuing a push to get Beijing’s approval to sell their own funds to Chinese consumers. Vanguard is betting that it can reach Chinese individuals another way.