Haier

Haier Partners BNP Paribas Peregrine to Jointly Enter Domestic Securities Market The Changjiang Securities Company (CJSC), in which Haier Group is the largest shareholder, and BNP Paribas have signed a Framework Agreement for the establishment of the Sino-Foreign Joint Venture Securities Company (Framework Agreement) and a Cooperation Agreement respectively in Beijing. This partnership is the first of its kind in China after the nation's accession to the World Trade Organization. It will become the second Sino-foreign joint venture investment bank after the China International Capital Corporation (CICC). According to the principle terms specified in the Framework Agreement, the joint venture company will provide its customers a wide range of financial services including distribution, offering and underwriting of securities in the primary market, financial advisory, mergers and acquisitions and other financial services. The CJSC is a medium-sized securities company with a registered capital of RMB 2 billion. BNP Paribas designated BNP Paribas Peregrine, its wholly owned subsidiary and its equity investment banking arm in the Asia Pacific Region (excluding Japan), to prepare the implement of the joint venture.