Guangdong investment plan

Guangdong province has applied for permission from Beijing to set up securities investment funds. The Shenzhen Securities Times reported yesterday that Guangdong officials had also urged the China Securities Regulatory Commission to allow the establishment of Sino-foreign joint venture investment funds as soon as possible. Guangdong also called for government support for companies issuing convertible bonds, and for preferential policies for profitable large and medium-sized state firms that want to issue shares, the newspaper said.