Chinese brokerage to launch investment fund in quake-hit city

POLITICAL ECONOMY

by Staff Writers
Shanghai (AFP) June 12, 2008
China's CITIC Securities said Thursday it plans to launch a six-billion-yuan (870-million-dollar) industrial investment fund to serve reconstruction in a southwestern quake-hit city.

The country's top listed brokerage said it has incorporated a new fund management company with registered capital of 100 million yuan in Mianyang of Sichuan province, according to a statement with Shanghai Stock Exchange.

The devastating earthquake, which rocked Sichuan and several neighbouring provinces on May 12, has killed more than 69,000 people and left over 17,000 missing.

The government has previously said that the quake is estimated to cost the industrial sector in Sichuan 67 billion yuan in direct economic losses.

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POLITICAL ECONOMY

Limited impact on China's economy from quake: officials

Beijing (AFP) May 28, 2008
The impact of the Chinese earthquake on the nation's economy and inflation will be limited, senior policy makers said Wednesday, as jitters about the disaster haunt the financial markets.

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