ICBC-AXA Life opens asset management subsidiary in Shanghai
Contributed by NAMPA / Xinhua.
SHANGHAI, May 16 (Xinhua) -- ICBC-AXA Life, partly owned by French insurance giant AXA, on Thursday opened its wholly-owned asset management subsidiary in Shanghai.
The subsidiary, with a registered capital of 100 million yuan (14.5 million U.S. dollars), was the first insurance asset management joint venture that won regulatory approval for establishment after China announced further opening up of the insurance industry in April 2018.
The firm will manage both Renminbi and foreign currency fund ...