  We present a method of short-distance analysis in quantum field theory that
does not require choosing a renormalization prescription a priori. We set out
from a local net of algebras with associated pointlike quantum fields. The net
has a naturally defined scaling limit in the sense of Buchholz and Verch; we
investigate the effect of this limit on the pointlike fields. Both for the
fields and their operator product expansions, a well-defined limit procedure
can be established. This can always be interpreted in the usual sense of
multiplicative renormalization, where the renormalization factors are
determined by our analysis. We also consider the limits of symmetry actions. In
particular, for suitable limit states, the group of scaling transformations
induces a dilation symmetry in the limit theory.
