Aug 24, 2023 07:07 PM

FINANCE

Allianz Joins Peers in Setting Up Wholly Owned Mutual Fund Business in China

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What’s new: Allianz Global Investors GmbH has gotten the green light from China’s top securities regulator to set up a wholly owned mutual fund firm in the country.

The German financial giant has six months to establish the subsidiary in Shanghai, with 300 million yuan ($41 million) in registered capital, according to a Thursday announcement published by the China Securities Regulatory Commission (CSRC).

The regulator received the application from Allianz in March.

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