According to the firm’s recent filings with the Asset Management Association of China (AMAC), the unit will be able to roll out fund offerings in China.
AXA already operates a life insurance venture and a mutual fund venture in China.
KKR and BlackRock have also secured Chinese regulatory approvals to set up local fund units to raise funds for offshore investments.
BlackRock’s China mutual fund unit is currently seeking regulatory approvals for its fifth product.
The filings with AMAC show that the regional units of global asset managers including abrdn, Neuberger Berman, Winton and Barings concluded financing for their local fund products during the city’s two-month lockdown, which was lifted this week.
AMAC, which is supervised by China Securities Regulatory Commission (CSRC), said last week it would streamline filing and registration processes to enable businesses to overcome Covid-19 restrictions and resume work.
The measures included permission to use electronic signatures in place of company seals in fund registrations and allowing new private funds to complete fundraising 18 months after registration.
Previously, the private funds were given only 12 after the registration to close fundraising.
Earlier this week, the Shanghai government announced several measures to revive the economy, which was hit by the lockdown.
These included policies that enable more foreign asset managers to introduce cross-border funds and establish regional investment centres in the city.