Foreign investors eye China’s futures market as policy control eases – Xinhua

From Xinhua, via People’s Daily Online:

As the Chinese government is considering easing control over in the futures sector, foreign investors are reportedly rushing into talks with potential Chinese partners on possible mergers and acquisition.

The Hong Kong-based securities brokerage CLSA is said to be in negotiation with Xiangcai Qinian , founded in 2004 with a registered capital of 30 million yuan (3.9 million U.S. dollars), to inject 20 million yuan for the company’s stakes, according to Saturday’s China Business Newspaper.

Without revealing the specific list of shareholding, the newspaper said that Xiangcai Securities, the holding company of Xiangcai Qinian Futures, was forced to sell the assets due to its financial crisis, but hoped to maintain its share-controlling status. [Full Text]

February 25, 2007 5:52 PM
Posted By:
Categories: Economy