Australian lender Macquarie is preparing to launch a trust joint venture in China, Reuters reported, citing sources familiar with the matter. Macquarie will take a 20% stake in the joint venture with Kunming International Trust as it tries to expand its investment business in China. Analysts said the venture would give Macquarie the ability to conduct a wide range of financial businesses, as trust companies are given more freedom to invest than other financial services companies in China, and can offer a range of corporate banking services. The venture’s English name has not been released, but sources said its Chinese name would translate as “Sino-Australian Trust and Investment Co.”
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