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BOC International (China) to set up direct investment unit

Published: 19 Nov 2008 17:36:11 PST

Nov. 19, 2008 (China Knowledge) - BOC International (China) Ltd plans invest RMB 300 million to set up a direct investment company, sources reported.

According to a source familiar with the situation, BOC International (China) will expedite the process of the establishment of the wholly-owned subsidiary, namely BOC International Investment Co Ltd, and actively look for investment opportunities.

The Shanghai-headquartered company expects the new unit will help enhance its profit-gaining ability and become a new revenue growth point for the company.

Up till now, eight securities firms have been involved in the trial scheme of direct investment, including China International Capital Co Ltd (CICC) and CITIC Securities Co Ltd<600030>.

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