This publication is a summary of publicly
reported information, the accuracy of which has
not been verified by KPMG.
Deutsche Bank
recently announced that the China Securities
Regulatory Commission (CSRC) has issued a
business license to a joint venture
securities company co-funded with Shanxi
Securities. The company will be engaged
in underwriting business in China’s stock
and bond markets.
Deutsche Asset Management
(DAM), the funds arm of Deutsche Bank,
said that it is transferring the management
of its Asian and Greater China equities
mutual funds to a new Hong Kong-based unit
set up by Harvest Fund Management Co. (Harvest). DAM owns 30 percent of Harvest.
Sumitomo Trust and Banking Co.
obtained the qualified foreign institutional
investor (QFII) licence from the CSRC.
Chinese brokerage Guoyuan Securities Co.
received approval from the CSRC to operate a
private-equity business. It plans to set up
a wholly-owned unit to conduct the
private-equity business.
China Asset Management Co. Ltd.
has been given the green light from the CSRC
to merge into CITIC Fund Management Co.
Ltd.
ICBC-Credit Suisse
has obtained approval from the CSRC to
launch the A50 ETF, which will cover 50
major state-owned enterprises listed on the
Shanghai Stock Exchange. It will be the
first publicly assessable ETF product in
China.
Bank of Communications Schroder Fund
Management Co.
has obtained approval from the CSRC to
develop an ETF which will track the Shanghai
Stock Exchange 180 Corporate Governance
Index.
Soho China Ltd.
is reportedly in talks to buy Donghai Plaza,
a commercial building in downtown Shanghai,
from Morgan Stanley, who bought the
building in 2003 for RMB 1.96 billion.
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