La Trobe Financial, an Australia-based credit specialist fund manager, has registered in the Shanghai Free Trade Zone (Shanghai FTZ ) as part of its plans to expand in Asia and to participate in China’s proposed financial market deregulation.
The Shanghai FTZ’s regulatory framework will allow La Trobe Financial to conduct a range of investment and asset management services, according to Finacial Standard.
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Launched in Spetember last year, the Shanghai FTZ in China with the backing of Chinese Premier Li Keqiang, has been designed to accelerate development of China’s and Shanghai city’s six industry fields that include financial services, shipping, business and trade, professional services, and cultural and social services.
Greg O’Neill CEO La Trobe Financial 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.
"Regional financial integration is very important for Asia-Pacific financial markets in order to achieve greater economies of scale, depth in liquidity and ultimately better support the region’s economic development plans by improving access to finance in each economy.
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