French asset management firm targets China market with CreditEase deal

Amundi Asset Management, Europe's largest such firm by assets under management, has joined hands with the wealth management arm of Beijing-based financial technology conglomerate CreditEase, marking the company's first strategic partnership in China in the wealth management sector.

On Wednesday, the Paris-headquartered company signed a strategic agreement with CreditEase Wealth Management, aiming at deepening their cooperation further in global asset allocation, wealth management solutions, risk management and control, relationship development with local regulators and industry institutions.

With Amundi offering integrated solutions on global asset allocation, CreditEase will launch the "Credit-Ease USD Cash Plus Fund", a US dollar cash management solution available for corporate and high-net-worth individuals.