Nation to set up trust, investment association

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Last updated at: (Beijing Time) Monday, April 05, 2004

Nation to set up trust, investment association

China's booming trust and investment business will soon have its own industry association, sources were quoted as saying by China Daily on Monday.

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China's booming trust and investment business will soon have its own industry association, sources were quoted as saying by China Daily on Monday.

"We received the approval from the Ministry of Civil Affairs for the launch of the association two weeks ago. Now we are only waiting for the final approval from the State Council," said Wu Dayong, head of the industry associations' preparatory committee.

He said the China Banking Regulatory Commission had already given the go-ahead to the industry association earlier. So if things run smoothly, the license will be granted in two to three months.

"The association will enhance self-discipline in the industry and communication with the public," Wu said.

Source: Xinhua

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