Wanlian Securities has been approved to hold a controlling stake in Chang'an Fund, completing the key puzzle for its public fund business.

According to reports, the China Securities Regulatory Commission has recently issued a written approval for Chang'an Fund Management Co., Ltd. to change its major shareholder and actual controller, confirming that its major shareholder will be Wansheng Securities Co., Ltd. After the completion of this equity transfer, Wansheng Securities will hold 63.70% of Chang'an Fund's shares, becoming the largest shareholder. Chang'an Fund will officially be incorporated into the Wansheng Securities holding system, which also means that Wansheng Securities, as a state-owned securities firm in Guangzhou, has now completed the key qualification of having a public fund business license.