Ten financial institutions from the mainland and Taiwan signed a deal on Saturday to set up a cross-strait equity trading center in Xiamen, Fujian province, to promote economic cooperation and development, the Shanghai Securities News reported Monday. According to the agreement, the center will initially be managed by the Qianhai Equity Exchange (Shenzhen) Co., Ltd., with the goal of being independently operated within three years after its systems and management team are in place. The center will have 100 million yuan (US$16.33 million) in registered capital, and its biggest investor will be Guosen Securities Co., Ltd., which will put in 30 million yuan. Other investors include CITIC Securities Co. Ltd. (06030.HK, 600030.CN) and Shenzhen Securities Information Co., Ltd., the report said.
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