LaTrobe extends China play
Australian-based credit specialist fund manager, La Trobe Financial announced this week that it had expanded its China business by setting up formal registration in the Shanghai Free Trade Zone (FT Zone).
The company said it believed the move would enable La Trobe Financial to grow its current local operations further following China's commencement of financial market liberalisation.
Under the FT Zone's current regulatory framework, La Trobe Financial will conduct a range of investment and asset management services.
Commenting on the move, La Trobe president and chief executive, Greg O'Neill said the FT Zone was designed to be an engine to accelerate China's and Shanghai city's construction of "six fields of industry" as described in the FT Zone framework — which include financial services.
"Asia's development and population base means it is now well on track to be a significant global player in financial markets," he said. "Looking towards 2020 we believe that Shanghai will ultimately become a global financial centre following this FT Zone initiative and the Chinese government's approach to more open capital markets is to be applauded."
AUTHOR
Mike Taylor
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