Press release
T. Rowe Price Opens Investment Research Office In Shanghai To Strengthen Coverage Of Chinese Securities
BALTIMORE, March 1, 2021 /PRNewswire/ -- NEWST. Rowe Price Group, Inc. (NASDAQ-GS: TROW) announced that effective today it has opened an investment research
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"BALTIMORE, March 1, 2021 /PRNewswire/ --\nNEWST. Rowe Price Group, Inc. (NASDAQ-GS: TROW) announced that effective today it has opened an investment research office in Shanghai, following the establishment of a wholly foreign-owned enterprise (WFOE), T. Rowe Price Investment Consulting (Shanghai) Co., Ltd, in Shanghai's Free Trade Zone on December 18, 2020.\nThe new office will expand and deepen T. Rowe Price's research coverage of China's rapidly growing investment universe and be a home base for additional analysts who will cover Chinese companies. The Shanghai office will support and supplement T. Rowe Price's leading global research platform, which informs investment decisions across the firm's range of local, regional, and global investment strategies. \nDai Wang, who joined the firm in 2014, will lead the Shanghai office. Mr. Wang has worked as a research analyst in T. Rowe Price's Equity Division covering Asian stocks in Hong Kong and in the firm's headquarters in Baltimore. \nT. Rowe Price has a decades-long history of investing in China through global strategies. The firm currently has two China-focused strategies managed out of Hong Kong by Wenli Zheng and Jacqueline Liu. Through its Qualified Foreign Institutional Investors (QFII) and the Shanghai-Hong Kong and Shenzhen-Hong Kong Connect schemes, T. Rowe Price has invested $4.8 billion into securities listed in Mainland China as of December 31, 2020, in addition to the $36.9 billion invested in Chinese securities listed on offshore exchanges.\nShanghai joins Hong Kong, Tokyo, Singapore, Sydney, and Melbourne as T. Rowe Price's sixth location in the Asia Pacific region and its 24th globally. \nQUOTES Justin Thomson, T. Rowe Price Head of International Equity and Co-head of Global Equity: \"The opening of our office in Shanghai represents an important milestone for T. Rowe Price, both in terms of bolstering our coverage of and commitment to China, as well as our long-term plan to build a sustainable and diversified business in the Asia Pacific region. China is home to some of the most exciting investment opportunities in the world. With more than 5,000 names in its investment universe, it has emerged as the second largest equity market globally and is one of the broadest and deepest growth markets outside of the U.S.\"\n\"The new office will amplify our ability to condu...