A stunning night view of Dishui Lake and its surroundings, located in the Lin-gang Special Area, where a financial bay is currently being built. [Photo/lingang.gov.cn]

Shanghai-based HuaAn Fund Management Co Ltd, or HuaAn Funds, will set up its new headquarters in the Lin-gang Special Area in East China's Shanghai city in the wake of a signing ceremony held on May 20.

HuaAn Funds, whose total assets under management are valued at over 650 billion yuan ($97.4 billion), is the first mutual funds company to settle in Lin-gang.

Its chairman Zhu Xuehua said that the location in Lin-gang was an important vote of confidence by the company – supporting the construction of Lin-gang and the integrated development of the Yangtze River Delta with its professional financial capacity.

Founded in 1998, HuaAn Funds is one of the first five domestic funds management companies approved by the China Securities Regulatory Commission.

After settling in Lin-gang, it is expected to vigorously promote innovation in financial products and services, to boost Lin-gang's financial opening up and its innovative development.