Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
2 brokers tap market by setting up PE units
Adjust font size:

Two domestic brokerages will form private equity investment units, joining other Chinese brokerages in tapping this segment of the market.

China Merchants Securities Co has formed a 100 million yuan (US$14.64 million) unit to invest in domestic companies ahead of their initial public offerings, according to a statement on its Website.

The unit will focus on manufacturing, healthcare, energy-saving, new energy, media and modern agriculture industries.

China Galaxy Securities also said it has received approval from the China Securities Regulatory Commission, the market regulator, to set up a wholly owned unit with a registered capital of 1 billion yuan to deal in private equity investment.

"The license will help broaden our development space, increase revenue source as well as diversify our profit mode," China Galaxy said.

So far the CSRC has approved a total of 15 Chinese brokerages, including China CITIC Securities, Guoyuan Securities and Changjiang Securities, to set up PE units with a total of more than 10 billion yuan available for investment.

The CSRC in May lowered the threshold for local brokerages to deal in PE investments to encourage more funds into the market and to help brokers to better compete with overseas rivals.

(Shanghai Daily September 8, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Pet Name
China Archives
Related >>
- PE funds promoted to boost M&As
- Draft rules on PE funds forthcoming
- PE managers optimistic over stock market
- VC, PE firms take the initiative
- PE prof takes sip from winery
June 7 Tokyo 2nd China-Japan High-Level Economic Dialogu

June 30 Shanghai 2009 Automotive Engine Technology Seminar

September 8-12 Xiamen China Int'l Fair for Investment and Trade
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?