T. Rowe Price Opens Investment Research Office In Shanghai To Strengthen Coverage Of Chinese Securities
(STL.News) T. 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.
The 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.
Dai 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 its headquarters in Baltimore.
T. 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.
Shanghai joins Hong Kong, Tokyo, Singapore, Sydney, and Melbourne as T. Rowe Price’s sixth location in the Asia Pacific region and its 24th globally.