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Business trends

Pimco joins global rush into China's financial market

Relaxed foreign ownership rules attract JPMorgan, Nomura and UBS

Bond-focused investment firm Pimco had $1.77 trillion under management at the end of March.   © Reuters

TOKYO -- U.S. bond manager Pimco will soon put down roots in China, following the likes of JPMorgan Chase and Nomura Holdings as the world's second-largest economy removes barriers to international financial groups.

Pimco plans to open an office in Shanghai and in Taiwan as soon as within the year. The group is responding to growing international demand for Chinese debt.

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