Chinese, Foreign Asset Managers to Increase Cooperation

The Shanghai-based Hua'an Fund Management Co., Ltd. signed a memorandum Monday with JP Morgan Fleming Asset Management on further cooperation to prepare for an asset management joint venture when it is allowed in the country.

According to the memorandum, the two companies will organize a team to do all the preparatory work. More cooperation and exchanges will be carried out before the official launch of the joint venture.

Han Fanghe, general manager of Hua'an, said his company has benefited a lot since the two sides signed a technical cooperation agreement last August. He said he believes further collaboration will promote the healthy development of China's fund and capital market.

Hua'an was set up in Shanghai in 1998, with a registered capital of 150 million yuan (about 18 million U.S. dollars). It currently manages four funds.

People's Daily Online ---