China allows Allianz Global to set up onshore fund management company

China allows Allianz Global to set up onshore fund management company

FILE PHOTO: Allianz Global Investors logo is pictured at the company's headquarters in Frankfurt, Germany August 16, 2021. REUTERS/Tilman Blasshofer

China’s securities regulator on Thursday granted approval to Allianz Global Investors (Allianz GI) to set up an onshore fund management company as Beijing vowed to step up efforts to attract foreign companies amid sluggish economic growth.

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