Hang Seng Bank to form China's first foreign majority-owned fund

Hang Seng Bank to form China's first foreign majority-owned fund

A clerk counts Chinese yuan and U.S. dollar banknotes at a branch of Bank of China in Taiyuan

China’s securities regulator has approved a plan by HangSeng Bank and a Chinese partner to form the first fund management company that will be majority owned by a foreign firm in a special development zone in southern China, according to a posting on the zone’s website.

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