We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
BNP Paribas (QX) | USOTC:BNPQY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.15 | 0.41% | 36.49 | 36.40 | 36.62 | 36.62 | 36.23 | 36.56 | 80,797 | 21:01:05 |
By Clarence Leong
A Agricultural Bank of China Ltd. unit and BNP Paribas Asset Management Holding SA plan to set up a joint venture wealth management company, a sign of China further opening up its financial markets to Western companies.
Agricultural Bank of China Wealth Management Co. has received regulatory approval for the JV, the Chinese lender said in a late Wednesday filing to the Hong Kong exchange.
The Chinese side will contribute 49% of the JV funding, while its France-based partner will contribute 51%, according to the filing.
The JV will "better satisfy the increasingly diversified investment and wealth management needs of various types of customers," Agricultural Bank of China said.
Last year, Chinese regulators approved a wealth-management joint venture between Goldman Sachs Group Inc. and Industrial & Commercial Bank of China Ltd. Other U.S. banks and investment firms, such as JPMorgan Chase & Co. and BlackRock Inc., have also been allowed greater access to China's markets since 2021.
Write to Clarence Leong at clarence.leong@wsj.com
(END) Dow Jones Newswires
October 19, 2022 20:45 ET (00:45 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
1 Year BNP Paribas (QX) Chart |
1 Month BNP Paribas (QX) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions