China Agriculture Bank united Chinalco plan to establish Joint Venture Fund Company with Cr¨¦dit Agricole.

Insiders disclose that China Agriculture Bank ( one of the four state-owned bank of China) united Chinalco plan to establish Joint Venture Fund Company with Cr¨¦dit Agricole in Ocotober. Cr¨¦dit Agricole will hold one third shares, while Chinalco will hold 15% shares, the rest shares belong to China Agriculture Bank.

The Joint Venture Fund Company will be set up in Shanghai, and its first issued fund appears as a type of stock aimed at raising 1000 billion RMB.

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