China's Financial Regulator Approves Insurance Asset Managers for Shanghai, Supports Foreign Banks' Futures Trials

AIA-0.06%
China's financial regulator announced support for qualified financial institutions to establish operations in Shanghai, approving the registration of AIA Asset Management and Harmony Insurance Asset Management. The regulator will also allow eligible foreign banks to pilot government bond futures and other financial businesses, creating a favorable environment for foreign institutions' development in the country.
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