Shenzhen Qianhai hands out first IM-WFOE licence
Shenzhen was China's third city to host a wholly foreign-owned investment management company, following Shanghai and Tianjin. It could appeal to smaller or tech-savvy asset managers.
Shenzhen has followed Shanghai and Tianjin in allowing overseas fund house BEA Union Investment Management to incorporate an investment management wholly foreign-owned enterprise (IM-WFOE).
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