China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (2729)	3/10/2004 4:07:34 PM
From: RealMuLan	Read Replies (1) of 6370

Fund sale is China's biggest Bloomberg Fortis Haitong Fund Management, a venture of Belgium's largest financial services company, said it received 12 billion yuan (HK$11.29 billion) from investors in the biggest subscription to a Chinese mutual fund offer. The venture offered its second fund through 10,000 outlets at 12 agent banks, with 85 per cent of subscriptions coming from individuals, deputy chief executive Miao Xunwei said. The company is a venture between Brussels-based Fortis Group and Haitong Securities, China's third-largest brokerage. The response underlines the demand for investment options among China's 1.3 billion population as inflation accelerates while bank deposit rates remain at record lows. The pace of new fund offerings has picked up this year as stock markets recover and the government encourages the industry to develop. thestandard.com.hk

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