Allianz applies to set up new fund management unit in China

Allianz applies to set up new fund management unit in China

FILE PHOTO: Allianz Global Investors logo is pictured at the company's headquarters in Frankfurt, Germany August 16, 2021. REUTERS/Tilman Blasshofer

Allianz Global Investors (AllianzGI) has become the latest foreign asset manager to seek Beijing’s approval to expand in the world’s second-largest economy.