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To: RealMuLan who wrote (17345)	12/1/2004 11:08:41 PM
From: RealMuLan	Respond to of 116555

Goldman Sachs wins regulatory approval to set up China investment bank JV Thursday December 2, 03:48 AM BEIJING (AFX) - Goldman Sachs Group Inc said it has received approval from the China Securities Regulatory Commission to set up a joint venture investment banking firm in China. Goldman Sachs said it will hold a 33 pct stake in the new company, while its Chinese partner, Beijing Gaohua Securities Co Ltd, will hold 67 pct. Gaohua Securities was set up recently by Legend Holdings Co, the parent of Hong Kong-listed PC maker Lenovo Group Ltd, and veteran Chinese banker Fang Fenglei, a former deputy chief executive of China International Capital Corp -- currently China's only foreign joint venture investment bank set up by China Construction Bank and Morgan Stanley. Financial details of the new joint venture were not provided. uk.biz.yahoo.com