The first batch of foreign wholly-owned insurance asset management institutions opened for business in Shanghai.

On January 28th, two newly established foreign-funded sole insurance asset management institutions, namely Friends Provident Insurance Asset Management Co., Ltd. and Dutch Allianz Insurance Asset Management Co., Ltd., held a collective opening ceremony in Shanghai. In June 2025, the China Banking and Insurance Regulatory Commission approved the establishment of the two insurance asset management companies. By the end of December, the Shanghai Financial Regulatory Bureau approved the opening of the two companies. With strong support from the national financial regulatory authorities, the two institutions completed all preparations and opened smoothly within just six months, further demonstrating China's determination to open up to Friends Provident and Dutch Allianz and strengthening foreign investors' confidence in long-term and sustainable investment in China.