China's Ant Financial, US-based Vanguard set up JV in Shanghai

China's Ant Financial, US-based Vanguard set up JV in Shanghai

Photographer: Anthony Kwan/Bloomberg

Chinese fintech company Ant Financial Services has formed a joint venture with a Shanghai unit of U.S.-based asset management firm The Vanguard Group, government records showed.

The venture marks a high-profile partnership of Jack Ma-controlled Ant Financial with an overseas asset management company.

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