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February 19, 2011

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Deal to cooperate

CHINA International Capital Corp yesterday signed a cooperation deal with Shanghai International Group, as part of Shanghai's ambition to be a global financial center.

The deal with CICC, one of China's largest investment banks, will back up the city's efforts to boost its influence in financial industry.

SIG was established with a registered capital of 5 billion yuan (US$760 million) by the Shanghai city government to restructure state-owned enterprises and regulate trust businesses.

 

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