Top global financial players have long sought to increase their presence in the relatively fast-growing Chinese economy, and in October last year China scrapped some restrictions on foreign banks' operations in the country.
Two months later France-based Amundi, Europe's largest asset manager, and Bank of China Wealth Management won approval from Chinese regulators to set up a joint venture, while banks including UBS and JPMorgan Chase have won approval to set up majority-owned China ventures. But the Chinese industry remains dominated by domestic state firms and China has yet to open up some more sensitive areas of its financial industry.
A spokesperson for the CBIRC also said in an interview published on the watchdog's website on Saturday that American insurer Chubb had been allowed to increase its stake in Huatai Insurance Group to 46.2 per cent, becoming the biggest shareholder of the Chinese firm. REUTERSFor daily updates on weekdays and specially selected content for the weekend. Subscribe to
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China approves BlackRock, Temasek and CCB joint wealth ventureBEIJING: China has approved a wealth management joint venture between US asset manager BlackRock, Singapore state investor Temasek Holdings and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China approves BlackRock, Temasek and CCB joint wealth venture
Source: TODAYonline - 🏆 1. / 99 Read more »
China approves BlackRock, Temasek and CCB joint wealth venture[BEIJING] China has approved a wealth management joint venture between US asset manager BlackRock, Singapore state investor Temasek Holdings and China Construction Bank (CCB), as China gradually opens up its financial sector to international firms. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
China approves BlackRock, Temasek and CCB joint wealth ventureChina has approved a wealth management joint venture between U.S. asset manager BlackRock Inc , Singapore state investor Temasek Holdings (Pte) Ltd and China Construction Bank Corp (CCB) , as China gradually opens up its financial sector to international firms. The announcement, which confirms what
Source: YahooSG - 🏆 3. / 71 Read more »
China approves BlackRock, Temasek and CCB joint wealth ventureBEIJING (REUTERS) - China has approved a wealth management joint venture between US asset manager BlackRock, Singapore state investor Temasek Holdings and China Construction Bank Corp (CCB), as China gradually opens up its financial sector to international firms.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
A Biden administration could herald smoother US-China relations, say Chinese expertsBEIJING - A United States led by former vice-president Joe Biden would be more predictable and smoother for China to deal with, Chinese experts have said, even though they expect a Biden administration to continue taking a tough line on Beijing.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »