(Yicai Global) May 7 -- Ten more global giants in the asset management sector penned deals to set up business hubs in Shanghai's Lujiazui Financial City today.

BNP Paribas Asset Management, the world's 12th-largest by asset scale, was one of the 10, local news app Wenhui Daily reported. Netherland's largest asset manager Robeco and Korea's biggest Mirae Asset Group were also among the new signups.

Nine of the world's ten biggest asset managers have already made moves in Lujiazui, setting up offices there to act as a hub for their China businesses. Some 51 companies have now set up a total of 71 subsidies in the financial district.

Editor: James Boynton