On April 18th, Allianz Fund Management announced that it has obtained the "Business License for Securities and Futures Operations of the People's Republic of China" issued by the China Securities Regulatory Commission, and will officially start public fund business in China. Up to now, China has nine wholly foreign-owned public fund companies, including BlackRock Fund, Robeco Fund, Fidelity Fund, Schroders Global Fund, UBS Fund, Allianz Fund, Manulife Fund, Morgan Asset Management (China), and Morgan Stanley Fund, with Allianz Fund being the ninth. Allianz Fund is located in Shanghai with a registered capital of 300 million RMB, and is a wholly foreign-owned public fund management company wholly owned by Allianz Investment. In August 2023, Allianz Fund received the approval from the China Securities Regulatory Commission to establish. Information shows that Allianz Investment is a diversified asset management company responsible for global asset management business under the German Allianz Insurance Group, with investment operations in 21 regions worldwide and is an active investment management company. Allianz Investment provides diversified active investment strategies, including equities, fixed income, multi-asset, and private market businesses. Tobias Pross, CEO of Allianz Investment, stated that deepening business in China is one of the long-term strategic focuses of Allianz Investment. With the public fund license, they can conduct public fund management business in the Chinese market, providing services to the growing number of retail investors in mainland China.