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China allows Allianz to set up local fund management company

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HONG KONG : China's securities regulator on Thursday granted approval to Allianz Global Investors to allow it to set up a local fund management company.The asset manager, an investment management subsidiary of German insurer Allianz, committed 300 million yuan ($41.20 million) to establish the China unit,

HONG KONG : China's securities regulator on Thursday granted approval to Allianz Global Investors to allow it to set up a local fund management company.

The asset manager, an investment management subsidiary of German insurer Allianz, committed 300 million yuan to establish the China unit, showed an official record from the regulator.

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