China Liberalizes Capital Markets

Beijing’s efforts to loosen the reins on China’s capital market is helping Manulife Financial Corp., which has been granted a license to introduce investment products in China through its wholly-owned local subsidiary. “This underlines Manulife’s commitment to China and the city of Shanghai by supporting its vision as a regional financial center,” states Donald Guloien, Manulife President and CEO. A number of foreign financial institutions such as Fidelity, Aberdeen Asset Management and Bridgewater Associates have recently introduced wholly foreign-owned enterprises in China. While foreign asset managers previously had to distribute investment products in China through minority-owned JVs with Chinese companies, China has been gradually loosening strict policies in this area.

Shanghai Business Review is the leading English language website and print magazine for business leaders conducting business in China.