Wuliangye, ABC set up finance company
By Zheng Yangpeng (chinadaily.com.cn) Updated: 2012-11-26 14:27Wuliangye Yibin Co Ltd, the listed company of Wuliangye Group Co Ltd, announced it will partner with Agriculture Bank of China International to build a finance company.
Wuliangye Group Co Ltd is the manufacturer of Wuliangye baijiu, a household alcoholic beverage in China. ABC International is the Hong Kong listed company of Agriculture Bank of China, one of the four largest banks in China.
The registered capital of the finance company will be 2 billion yuan ($321 million), of which 720 million yuan will come from Wuliangye Group Co Ltd.
Finance companies in China are a special non-bank financial institution responsible for corporations internal financing.
- Vanke's shares plunge in HK on reported move to oust chairman
- Buy or hail?
- Global effort needed to end market uncertainty caused by Brexit: Li
- Rise of health startups powers nation's innovation
- China's start-up boom lures talent away from traditional path
- Geely opts to sell interests in micro carmaker
- What they said during Summer Davos Forum
- China decarbonizes for greener growth
Hot Topics
Editor's Picks
