Tianjin to Launch Major Securities CompanyTianjin, a port city in north China, will establish a major securities company with a registered capital of two billion yuan (about US$200 million) by the end of June.The new company will be among the top ten securities companies in China. The China Securities Regulatory Commission approved the plan for the establishment of the company at the end of 2000. The new company will be established on the basis of the merge of four local securities companies and involve the participation by efficient enterprises and listed companies. The new company will expand business in the direction of globalization and standardization, and will be managed according to a modern enterprise system. The establishment of this company is believed to help accelerate construction of Tianjin's capital market, fund raising by enterprises and listing of local companies on the stock market. |
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