CDIB to set up a private equity fund in China
Taipei-based China Development Industrial Bank (CDIB), the investment banking unit of China Development Financial Holding, has teamed up with China’s state-owned Jiangsu High-Tech Investment Group to set up a RMB2 billion ($321 million) PE fund.
The fund will invest exclusively in Jiangsu province and the cooperation is expected to pave the way for the Taiwanese bank to penetrate the China's financial market, using Jiangsu as a stronghold. Jiangsu...
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