AIG-Huatai Fund Management Enhances Regitered Capital

(SinoCast China Business Daily News Via Thomson Dialog NewsEdge) SHANGHAI, September 25, SinoCast -- AIG-Huatai Fund Management Co., Ltd. (AIG-Huatai), a Shanghai-based joint venture fund management company, recently enhanced its registered capital from CNY 100 million to CNY 200 million after gaining approval from relevant governmental agency.

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Prior to that, its shareholders AIG Global Investment Corporation (AIGGIC), Huatai Securities Co., Ltd. (Huatai Securities) and Suzhou New District Hi-tech Industrial Co. respectively took 49%, 49% and 2% of interests in the joint venture. This time, the fund injection is conducted in light of the proportion of their respective interest.

An official of the joint venture expressed the enhancement of registered capital would be helpful for the expansion and development of the company, for relevant Chinese law indicates the fund management in the interbank foreign exchange market must have no less than CNY 150 million of registered capital.

Later, the joint venture will sequentially start the business regarding QFII and QDII and enterprise annuity, added the official.

Copyright 2006 SinoCast LLC Source: Financial Times Information Limited -