Vanguard Group suspends plans to pursue license to run fund management company in China

Late on Monday, top mutual fund manager Vanguard Group said, it will no more pursue plans to obtain a license to run a fund management company in China.

The discontinuation of the outsourcing augurs well for the United States since it will mean that those job will not be eliminated from the U.S. job market. Vanguard’s China strategy is in participation with Chinese financial technology company Ant Group Co.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

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