Aluminum Corp. of China: Credit Agricole SA to Launch China Fund JV by October-Reuters

Aluminum Corp. of China: Reuters reported that Credit Agricole SA , is due to launch a Chinese fund management venture by the end of October to tap the Country's asset management boom. The joint venture would be one-third owned by Credit Agricole, the sources told Reuters. Aluminum Corp. of China would have a 15% stake and the Agricultural Bank of China would hold the remainder. The fund venture, based in China's financial hub of Shanghai, is already planning to launch its first domestic mutual fund to raise as much as CNY10 billion. The company will apply to the China Securities Regulatory Commission to launch the stock-focused fund as soon as it is officially set up,