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Article: China approves five new mutual funds to boost stock market

Article from:
Xinhua News Agency
Article date:
February 10, 2007
Copyright

China approves five new mutual funds to boost stock market

SHANGHAI, Feb. 10 (Xinhua) -- China's securities watchdog has given the go-ahead for five new mutual funds after a two-month hiatus in approvals, with the aim of boosting the country's stock markets which endured more than a week of losses since the end of January.

The notice, posted on China Securities Regulatory Commission's website, spurred a new rise on the stock markets over the past days.

The new equity funds will be offered by CCB Principal Asset Management Co., First State Cinda Fund Management Co., China Universal Asset Management Co., Zhonghai Fund Management Co. and Huafu Fund Management Co.

Although the stock markets ...

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