SHANGHAI :
CBIRC Allows Amundi, BoC to Kick Off China's First Wealth Management JV
Xu Wei
DATE:  Sep 25 2020
/ SOURCE:  Yicai
CBIRC Allows Amundi, BoC to Kick Off China's First Wealth Management JV CBIRC Allows Amundi, BoC to Kick Off China's First Wealth Management JV

(Yicai Global) Sept. 25 -- China's banking and insurance regulator has given the green light for the country's first wealth management joint venture, owned by France's Amundi Asset Management and Bank of China, to start operation. 

The China Banking and Insurance Regulatory Commission yesterday gave Huihua Wealth Management the go-ahead to open, Securities Times reported. Paris-headquartered Amundi has 55 percent of the firm's equity and BoC the remainder.

The new company will engage in asset management-related business, including insurance of private and public wealth management products, as well as consulting. 

Editor: Emmi Laine

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Keywords:   JV Wealth Management Company,CBIRC,Amundi,French,Bank of China