BEIJING (XFN-ASIA) - The China Securities Regulatory Commission has given its approval to three new domestic equity funds, which plan to raise a combined two bln usd, the Shanghai Business Review reported, citing a source.
The investment funds, run by Orient Securities Co, Shenyin & Wanguo Securities and Zheshang Securities, are the first such approvals in five months, the report added.
Last week, Agence France-Presse identified Shenyin & Wanguo as one of three companies winning approval for a new investment fund.
andrew.pasek-vanburen@xinhuafinance.com
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