OREANDA-NEWS. May 29, 2013. China Securities Regulatory Commission (CSRC) approved Industrial Bank (IB) to establish Industrial Fund Management Co., Ltd.

This marks another major progress of IB's integrated and group-oriented development strategy after its founding of Industrial Bank Financial Leasing Co., Ltd. and its purchase and control of China Industrial International Trust Limited.

As announced by the bank, IB will found a fund management company together with China Shipping Investment Co., Ltd. Registered in Fuzhou, the registered capital of the company is RMB 500 million, of which IB contributes RMB 450 million, accounting for 90% of the registered capital, and China Shipping Investment Co., Ltd RMB 50 million, accounting for 10% of the registered capital. The business scope of the company covers fund raising, fund sale, management of specific customers' assets, asset management and other businesses approved by CSRC.