other new interested in involving business

Comprehensive operations next city Yesterday evening, Nanjing Hi-Tech (600064.SH) announced said initiated the establishment of a fund to be jointly with the Bank of Nanjing, which funded 80% of Bank of Nanjing, Nanjing Hi-Tech contributed 20%. Nanjing High-Tech yesterday's announcement, said the establishment of the fund companies, the need to obtain the approval of the SFC. . In the second half of 2012, the central bank senior position to support the qualified joint-stock banks and city commercial banks to set up fund management companies. Approval by the regulatory authorities of the release, Nanjing Bank likely will become the first city commercial fund license. "Although the city commercial day flies down, but sooner or later mixed operation challenges to come." Insiders analysis to the "First Financial Daily" reporters, although the trend of mixed operation, city commercial funds and other new interested in involving business, but relatively weak risk control, investment banking talent scarcity, the biggest challenge is to carry out fund high-risk business. Nanjing High-Tech announced that the consideration by the Board of Directors agreed to by the Company and Nanjing Bank co-sponsored the establishment of the the Jianye fund management company (tentative name, hereinafter referred to as "Jianye Fund"). Jianye fund registered capital to 200 million yuan. , Nanjing Hi-Tech invested 40 million yuan, accounting for 20% of the registered capital; Nanjing Bank invested 160 million yuan, accounting for 80% of the registered capital. Nanjing High-Tech Careers considering tax policy, cost and industry conditions, Jianye Fund to be established in Shanghai. In the second half of 2012, central bank vice governor Liu Shiyu has said, in principle, support the conditional joint-stock commercial banks and city commercial banks to set up a fund company to participate in the pilot. Subsequently, the Board of Directors of Bank of Nanjing, passed a resolution on August 24, 2012, and intends to initiate the establishment of the fund management company.