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MNI: Eleven securities brokerages have reached a.....>

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MNI (London)
MNI: Eleven securities brokerages have reached a joint agreement to invest CNY21
billion to set up a parent asset management plan, which will serve as a guiding
fund to support various securities companies in creating several sub asset
management plans, the Wallstreetcn.com reported on Tuesday, citing an
announcement by the Securities Association of China. The aim is to attract funds
from banks, insurance firms, state-owned enterprises and government platforms
and form an asset management plan with a total size of CNY100 billion.
- The plan aims to bailout listed firms with an equity pledge risk and ease the
liquidity pressure for prospective listed companies amid the recent A-share
slump, the report said.
(Link to the story: https://bit.ly/2q5V4Nu)
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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