British insurer Prudential, China's CITIC forge asset management JV in Beijing

British life insurance giant Prudential and China’s state-backed conglomerate CITIC Group have set up a joint venture asset management firm in Beijing, the city’s financial authorities said on Thursday. The unit, Prudential–CITIC Asset Management Co, completed its business registration in Beijing on March 31, the Beijing Local Financial Supervision and Administration Bureau said in a statement, as the city continues to open up for foreign financial firms despite the coronavirus outbreak.