Foreign wealth management giants poised to tap China’s US$3.7 trillion market as new rules promise to cut risk

A shake-up of the rules around wealth management in China designed to eradicate risks that previously plagued the sector has helped smooth the way for foreign players keen to tap the enormous market, according to Europe’s biggest asset manager.Amundi launched its majority-owned wealth management venture in Shanghai on September 30, becoming the first foreign company to do so.The French asset manager owns 55 per cent of the venture, known as Amundi BOC Wealth Management, while Bank of China…

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