CITIC Securities announced on March 17 that it will inject RMB2.17B into its whole subsidiary Goldstone Capital to conduct direct investment business. Moreover, CITIC Securities will establish an industrial fund management company to take charge of Mianyang Technical City Industrial Investment Fund (Mianyang Fund).

According to the announcement, CITIC Securities will increase its investment in Goldstone Capital to RMB3B to uplift the business capacity of Goldstone Capital. CITIC Securities will initiate and absolutely control CITIC Industrial Fund Management Co., Ltd. (temporary name) to take charge of Mianyang Technical City Industrial Investment Fund. The registration capital of the fund management company will be RMB100-150M, less than RMB120M of which will be sourced from CITIC Securities.

CITIC Securities will invest Mianyang Fund with its self capital. The total investment amount will be RMB600-1100M during the duration of the fund.