Australian brokers on study tour
A TEAM of Australian institutional investors leaves for China on Saturday for a 10-day visit which will take in inspections of six companies listed on the Shanghai and Shenzhen exchanges.
The visit, the first of its type, will be led by Hambros Australia, joint-venture partner with CITIC Australia in stockbroker CH China Securities, which is aimed at attracting Australian institutional investment in Chinese markets.
The tour group will represent Barclays Investment Management, Commonwealth Funds Management, Mercantile Mutual Investment Management, Permanent Trustee, Equilink, FAI Insurance Funds Management and AMEV Financial Services.
They will hold talks with CITIC, Shanghai and Shenzhen representatives of the People's Bank of China, and the six companies - Yili Mineral Water, China Bicycle, Chi Wan Wharf, Erfangji (Shanghai No 2 Textile Machinery Co), Dazhong Taxi and Shanghai Petrochemical.
Hambros Australia managing director Ed Blackadder, announcing details of the visit yesterday, said the support illustrated Australian interest in China's markets.