The licence means Manulife can serve a wider range of investors, such as small and medium-sized institutions, private banks and independent wealth management platforms.

Unlike other WFOE categories, the investment company licence has stricter requirements. For example, to qualify, a financial institution must own a majority stake in an existing entity in China. Manulife met this test through its 51 per cent investment in the joint venture company Manulife-Sinochem Life Insurance Co, based in Shanghai. 
 
“Being the first financial institution to receive the Investment Company WFOE status puts us in an excellent position to expand our range of global product offerings to investors in China,” said Kai Sotorp, global head of wealth and asset management for Manulife.
 
“This underlines Manulife's commitment to China and to the city of Shanghai by supporting its vision as a regional financial centre,” said Donald Guloien, president and chief executive of Manulife. “This also allows us to better fulfill our aspiration in serving Chinese investors to achieve their respective investment objectives.”
 
Manulife's investments in China include Manulife-Sinochem Life Insurance Co with $3.2 billion of assets under management, and Manulife TEDA Fund Management Company with AuM of $9.8 billion.