China's CITIC securities looks for partnerships in Taiwan.Taipei, July 7, 2009 (CENS CENS Censor CENS Center for Embedded Networked Sensing (UCLA NSF) CENS Censorship CENS Centre d'Etudes Nucleaires de Seclay ) -- The China-based CITIC CITIC China International Trust and Investment Corporation Securities Co., China's largest securities firm, recently came to Taiwan to visit local financial institutions, including Capital Securities Co., Yuanta Financial Holdings Co. and Fubon Financial Holdings Co. An industry insider believes the CITIC is looking for partnerships with domestic, well-established securities firms before Taiwan and China signs the memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ) for the securities sector. Founded in 1995 in Beijing, CITIC at the end of last year saw total assets amount to 136.9 billion renminbi (approximately NT$680 billion). A survey of its 107 member securities firms by China Securities Industry Association shows CITIC as the most profitable with 6.173 billion RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) in net income last year. The CITIC will likely tap the management experience accumulated by domestic counterparts, especially in margin trading, with such learning to enable CITIC to minimize spending on controlling management risks after China allows margin trading. The CITIC stressed that it is focusing on business exchange, rather than business cooperation, before the signing of the MOU. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion