China grants Aberdeen Asset Management business licence
[LONDON] British-based fund firm Aberdeen Asset Management has been granted a business licence to operate in China, the British government announced on Tuesday during an official visit to the country aimed at fostering trade and investment links.
The licence was issued to a newly-created Aberdeen subsidiary and will enable the firm to set up an office in China under a pilot free-trade scheme, Britain's business department said in a statement.
"The company will bring fund management expertise from the UK to the second largest economy in the world. I am committed to building relationships like this between our two nations," British business minister Sajid Javid said in the statement.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Bank of Japan keeps rates steady, projects inflation staying near 2% in coming years
Weak yen pressures Bank of Japan’s interest rate decision
Basel Committee adds climate risks to banking supervision standards
Crypto firm sues SEC to fend off oversight of Ethereum
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand