Europe's largest asset manager has strengthened its ties with China's wealth management market through a new deal with a native firm.

CreditEase Wealth Management has inked a new deal with Amundi, Europe’s largest asset manager, making it the French firm’s “first strategic partner” in China’s money management market.

Under the strategic cooperation agreement, “the two companies will deepen their cooperation further in global asset allocation, wealth management solutions, risk management and control, relationship development with local regulators and industry institutions,” they said in a statement. 

Jean-Maurice Ripert, French ambassador to China, said: "The global financial environment remaining challenging and competitive in recent years, the transnational cooperation, which is one of the representative examples of China-France exchanges and cooperation, will benefit both sides and lead to more exchanges and cooperation cases between the two countries."

CreditEase Wealth Management provides integrated solutions on global asset allocation and overseas life service for Chinese high net worth and ultra-high net worth clients in China.