Central Tanshi to set up firm in China for forex brokerage business+
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[September 21, 2006]

Central Tanshi to set up firm in China for forex brokerage business+

(Japan Economic Newswire Via Thomson Dialog NewsEdge) TOKYO, Sept. 21_(Kyodo) _ Central Tanshi Co., Japan's largest brokerage firm for the domestic short-term money market, said Thursday it has agreed with major Chinese financial titan CITIC Group to set up a joint venture for the foreign exchange business in China.



CITIC Group will own 67 percent of the new company while Central Tanshi will hold 33 percent. The two firms plan to set up the joint venture within this year after obtaining approval from Chinese financial authorities, Central Tanshi said.

Central Tanshi brokers financial trading between banks and other financial institutions.



CITIC Group holds banking, brokerage, and life insurance firms under its umbrella, with a total asset of about 12 trillion yen.

Copyright 2006 Kyodo News International, Inc.

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