US bank Brown Brothers Harriman (BBH) and Industrial & Commercial Bank of China (Asia) Ltd have signed an agreement allowing BBH to assist some of the world’s largest asset managers to gain more access to China, The Wall Street Journal reported. The deal depends on whether new rules are enacted to further open China’s mutual-fund market to foreign investors. Regulators in Hong Kong and Beijing are considering a program that would allow mutual funds domiciled in Hong Kong to be sold in mainland China and vice versa. In the deal with ICBC Asia, BBH will offer back-office and other services for Hong Kong-domiciled funds. This brief has been updated to correct the legal entities involved. An earlier version incorrectly stated that BBH had signed the agreement with ICBC.