Faba Agricultural Bank Financial Management was approved to open as the fifth joint venture financial management company approved to be established.

(FIFA)-- Agricultural Bank of China announced on the Hong Kong Stock Exchange that recently, a wholly-owned subsidiary of Agricultural Bank of China has received approval from the State Financial Supervision and Administration, and has approved the opening of a joint venture between Agricultural Bank of China and Paris Asset Management Holdings. According to the announcement, the registered capital of Faba Agricultural Bank of China is 1 billion yuan, and it is registered in Shanghai. It is mainly engaged in asset management-related business such as issuing public and private financial products, financial advisers and consulting. It is reported that Faba Agricultural Bank Financial Management is the fifth joint venture financial company approved to be established.