UBS is only the latest foreign firm to throw its hat in the ring in China by seeking to apply for a mutual fund licence.

UBS is only the latest foreign firm to throw its hat in the ring in China by seeking to apply for a mutual fund licence.
This comes a day after Neuberger Berman got its approval.
The fund is expected to complete its IPO by the end of the first quarter of this year.
‘The traditional 60/40 portfolio was dead and buried last year but the outlook now looks far better – it has been resuscitated.’
A sense of optimism surrounds the country’s prospects as it reopens.
JP Morgan Asset Management gets the nod to complete its acquisition of China International Fund Management.
It is only the second asset manager to have both a wholly owned fund management company and a majority-controlled wealth management joint venture.
The UK asset manager shared five investment themes in China that it overweighs in 2023.
No-one is suggesting China is anything but volatile but things are starting to get interesting.
Short-term sentiment has been boosted after the Chinese government announced plans to relax restrictions, said market observers.
Part of the Mark Allen Group.