Finance: Stake purchase
Updated: 2006-04-18 14:56
China's Northern International Trust & Investment Co (NITIC) has received
regulatory approval to buy a 51 pct stake in ABN Amro's fund management joint
venture from Xiangcai Securities. As part of a restructuring, ABN Amro's asset
management arm is also expected to raise its stake in the venture to 49 pct.
(Securities Times)
China should buy less U.S. debt while stepping up imports from the United
States to help reduce the bilateral trade gap, a senior official said in remarks
seen Monday, ahead of President Hu Jintao's visit to Washington. (Shenzhen
Daily)
Foreign direct investment in Shanghai reached US$2 billion in the first
quarter, growing 2.9 percent from a year earlier, Oriental Morning Post reported
today. Contracted foreign investment reached US$3.4 billion in the period, up
9.9 percent. (Shanghai Daily)
(For more biz stories, please visit Industry Updates) |