First State Investments, owned by Commonwealth Bank of Australia, has agreed to form a joint venture to manage funds in China with three local companies, in the latest sign that fund managers are increasingly seeking opportunities in the market.

The three local companies are Hantang Securities, China Southern Airlines, and Nanjing YPC Refining and Chemical Company. First State has lodged an application to manage funds with the Chinese Securities Regulation Commission, the local regulator.

Mike Foster

First State Investments

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First State forms Chinese joint venture

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