On 16 October, ING Investment Management and Shenzhen-based China Communications Securities CCS signed a technical cooperation agreement for the establishment of a new fund management company in China. Chris Ryan, ING's regional director for North Asia, explains.
FinanceAsia Who owns CCS
Chris Ryan It's partially owned by China Merchants Bank. Other parts of ING's business have exposure to the bank but we have no other business arrangements.
What do you hope to get out of this relationship
We're looking for the potential to participate in China's fund management industry. The final regulations are still being written. They should be released some time after China joins the World Trade Organization, but we understand...