CCB branches to raise RMB5.3 bln to promote dev. of emerging industries

BEIJING, Nov. 29 (Xinhua) – Four subsidiaries of China Construction Bank (CCB, 0939. HK) plan to raise a total of 5.3 billion yuan for a strategic emerging industry development fund initiated jointly by CCB and China's National Development and Reform Commission (NDRC), announced CCB on Wednesday.

According to the announcement, the four subsidiaries are respectively CCB Life insurance Company Limited, CCB International (Holdings) Limited,CCB Financial Asset Investment Co., Ltd. and CCB Trust Co., Ltd.

The move aims to create opportunities for achieving competitive advantages in strategic emerging industries and better serve major national strategies. (Edited by Gu Shanshan)