AllianceBernstein Applies to Set Up China Fund Firm: Regulator

People wearing protective masks stand on a viewing terrace at Victoria Peak in Hong Kong on Feb. 3. Photo: Bloomberg

(Bloomberg) — AllianceBernstein Hong Kong Ltd. has applied to set up a mutual fund company in China, the country’s top securities regulator said on its website.

The China Securities Regulatory Commission received the application from the Hong Kong-based investment-management company on Nov. 12, it said.

In August, BlackRock Financial Management Inc. became the first foreign business to receive approval from the commission when it got the go-ahead to set up a wholly-owned mutual fund management company.

Contact editor Yang Ge (geyang@caixin.com)

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