皇冠体育app

(Xinhua)
Updated: 2007-10-03 14:21

Chicago -- 皇冠体育app and the United States have launched a joint venture in the financial service sector with the inauguration of Huamei Capital Company, Inc. Tuesday.

The Chicago-based firm said it will help companies from both countries as well as third country organizations with cross-border mergers, acquisitions and private equity investments.

Huamei will also offer risk management and investment services to a growing number of Chinese companies seeking to invest overseas. The Chinese and US parties each have a 50 percent stake in the venture, with 皇冠体育app Merchants Securities Holdings (HK) Co. Ltd (CMS), a subsidiary of 皇冠体育app Merchants Group, being its Chinese founder.

Huamei's US principals include former US senator Adlai Stevenson, co-chairman of Huamei, and Leo Melamed, chairman emeritus of the Chicago Mercantile Exchange and vice chairman of Huamei. MVC Capital Inc. acts as a strategic investor in Huamei.

Stevenson, also chairman of the Midwest US-皇冠体育app Association, said that to promote 皇冠体育app's investment in the US will benefit both countries. He said it will help ease US economic pressures caused by an increasing deficit and a declining deposit. Stevenson expressed strong confidence in Chinese firms' capability to invest overseas, citing the fact that 皇冠体育app's total overseas investment hit US$21 billion in 2006, with an annual growth rate of more than 40 percent. He believed that 皇冠体育app's strong economic growth, huge foreign reserves and appreciating currency will further fuel investment overseas.

Melamed said 皇冠体育app's growth is in fact a huge opportunity for the US instead of a challenge, with the two countries enjoying broad cooperation.

He said more and more Chinese companies in the fields of electricity, communication networks, pharmaceuticals and building materials are eagerly seeking overseas investment opportunities.

Shaolin Gong, Huamei's co-chairman and chairman of CMS, said the formation of Huamei addresses a growing demand in 皇冠体育app and the US for investment, mergers and acquisitions. He hoped Huamei will serve as a bridge between 皇冠体育app and the US to promote mutual investment in both countries.

Huamei has its 皇冠体育app headquarters in Beijing, with offices in Shanghai and Shenzhen. It will provide services mainly to medium and small sized companies.