Allianz GI obtains approval from CSRC to operate as a public investment fund in China

Allianz Global Investors announced today that it has obtained approval from the China Securities Regulatory Commission (CSRC) to operate as a fully foreign public fund management company (FMC) in mainland China.

AllianzGI's ongoing commitment in China

In August 2023, AllianzGI obtained regulatory approval to establish an FMC business in mainland China, with a registered capital of 300 million RMB (41.2 million US dollars).

AllianzGI has already been an active participant in the Chinese market for several years, having established its own office in Shanghai as a Wholly Foreign-Owned Enterprise (WOFE) in 2017. AllianzGI obtained a Qualified Domestic Limited Partner (QDLP) license in 2018 and successfully launched its first QDLP product in the same year, demonstrating its dedication to the market.

Furthermore, Allianz Group, of which AllianzGI is a part, has a long-standing commitment in mainland China, with Allianz having established the life insurance joint venture in 1999. In 2019, Allianz reached another milestone by obtaining approval from the Chinese regulator to establish the first fully foreign insurance holding in mainland China.

Building our business in China is a long-term strategic priority for AllianzGI. Having obtained our FMC license, we can now start our public fund management business in this dynamic market, allowing us to start serving the growing retail investor population in the country.

The mutual fund market in China, worth billions of dollars, is set for strong growth due to the aging population, rising household incomes, and ongoing pension reforms. AllianzGI is well positioned to serve this growing market, combining global active asset management and market experience with local delivery to provide a wide range of innovative investment solutions to customers. By continuing to invest in local talent in China and leveraging digital technologies, we aim to create value for our customers and further support the growth of our business in China.

Tobias Pross, Chief Executive Officer, Allianz Global Investors