Schroders, BNP Paribas among foreign firms rushing to tap China’s US$18 trillion wealth-management opportunity

Schroders plans sales of its first batch of fund products in mainland China this year, after it received a fresh licence to operate a wholly foreign-owned public fund-management company, as international fund managers accelerate expansion into the world’s second-largest asset-management market, seen growing to US$40 trillion by 2030. “Our belief…