Starr Investments, an investment group controlled by the US insurance tycoon, in January 2007 announced the creation of a joint venture investment vehicle with Citic Securities, a leading mainland brokerage backed by Citic Group, a state-owned conglomerate.
The venture was to start with Rmb1bn ($146m) in capital, supplied in equal amounts by each partner, with a stated aim of investing in mainland companies prior to their market listing.
Because it was a novel arrangement, it fell into a regulatory black hole and the Chinese Securities Regulatory Commission rejected the planned venture rather than set a precedent.
您已閱讀31%（619字），剩餘69%（1404字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。