plans to set up business in China in partnership with a local financial firm as part of its strategy to boost growth in Asia, people with direct knowledge of the matter told Reuters.
The plan comes as China, the world’s second-largest country by number of billionaires, has been rapidly opening up its financial sector for bigger foreign participation. China’s wealth management industry is the fastest-growing in the world but has historically been linked to the sale of high-risk, illiquid investment products and lax regulatory oversight.
StephNebehay Thats means oney laundering...
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