Sino-US joint venture launched for cross-border acquisitions
A Sino-US joint venture has been launched in the financial service sector to help companies from both countries as well as third country organisations with cross-border mergers, acquisitions and private equity investments.
By Agencies |
BEIJING: A Sino-US joint venture has been launched in the financial service sector to help companies from both countries as well as third country organisations with cross-border mergers, acquisitions and private equity investments.
The Chicago-based Huamei Capital Company Inc. will also offer risk management and investment services to a growing number of Chinese companies seeking to invest abroad.
Both Chinese and US groups each have a 50 per cent stake n the venture. China Merchants Securities Holdings (HK) Co Ltd (CMS), a subsidiary of China Merchants Group, being its Chinese founder.
Former US senator Adlai Stevenson is the co-chairman of Huamei and Leo Melamed, chairman emeritus of the Chicago Mercantile Exchange, is the vice chairman of the joint venture company.
MVC Capital Inc. acts as a strategic investor in Huamei.
Huamei's co-chairman said promoting China's investment in the US will benefit both countries, Xinhua news agency reported.
Stevenson, also the chairman of the Midwest US-China Association, said it will help ease US economic pressures caused by an increasing deficit and a declining deposit.
He expressed strong confidence in Chinese firms' capability to invest overseas, citing the fact that China's total overseas investment hit USD 21 billion last year, with an annual growth rate of more than 40 per cent.
Stevenson believed that China's strong economic growth, huge foreign reserves and appreciating currency will further fuel investment overseas.
Huamei's co-chairman and chairman of CMS, Shaolin Gong said the formation of the joint venture company looks after a growing demand in China and the US for investment, mergers and acquisitions.
He hoped Huamei will serve as a bridge between China and the US to promote mutual investment in both the countries.
Huamei has its China headquarters in Beijing, with offices in Shanghai and Shenzhen. It will provide services mainly to medium and small companies.
The Chicago-based Huamei Capital Company Inc. will also offer risk management and investment services to a growing number of Chinese companies seeking to invest abroad.
Both Chinese and US groups each have a 50 per cent stake n the venture. China Merchants Securities Holdings (HK) Co Ltd (CMS), a subsidiary of China Merchants Group, being its Chinese founder.
Former US senator Adlai Stevenson is the co-chairman of Huamei and Leo Melamed, chairman emeritus of the Chicago Mercantile Exchange, is the vice chairman of the joint venture company.
MVC Capital Inc. acts as a strategic investor in Huamei.
Huamei's co-chairman said promoting China's investment in the US will benefit both countries, Xinhua news agency reported.
ADVERTISEMENT
Stevenson, also the chairman of the Midwest US-China Association, said it will help ease US economic pressures caused by an increasing deficit and a declining deposit.
He expressed strong confidence in Chinese firms' capability to invest overseas, citing the fact that China's total overseas investment hit USD 21 billion last year, with an annual growth rate of more than 40 per cent.
Stevenson believed that China's strong economic growth, huge foreign reserves and appreciating currency will further fuel investment overseas.
Huamei's co-chairman and chairman of CMS, Shaolin Gong said the formation of the joint venture company looks after a growing demand in China and the US for investment, mergers and acquisitions.
ADVERTISEMENT
He hoped Huamei will serve as a bridge between China and the US to promote mutual investment in both the countries.
Huamei has its China headquarters in Beijing, with offices in Shanghai and Shenzhen. It will provide services mainly to medium and small companies.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
