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With the USA financial market in the toilet China is attracting US $$$$$ as well as European Euro's. As China is already the worlds largest holder of USA Treasury notes should we all start learing Chinese as a 2nd language??

Morgan Stanley completes China trust firm purchase: report
Tue Nov 25, 2008 7:36pm (Reuters) - Morgan Stanley has completed a purchase of a 19.9 percent stake in China's Hangzhou Trust in a deal worth 200 million yuan ($29 million), the official Shanghai Securities News said on Wednesday.

"Hangzhou Trust's move to invite Morgan Stanley as its strategic investor has been completed and the trust is now a joint venture," the newspaper said.

Hangzhou Trust told Reuters earlier that it would sell the stake to Morgan Stanley for 200 million yuan.

The U.S. firm would appoint a new chief executive and take two of the nine board seats of the trust, which had more than 6 billion yuan in assets under management, it had told Reuters.

Foreign companies are increasingly looking to China's once ailing trust banks to secure a foothold in its booming financial services market.

Royal Bank of Scotland Group Plc (RBS.L: Quote, Profile, Research, Stock Buzz) has won approval from Chinese regulators to buy a nearly 20 percent stake in Suzhou Trust Co, industry sources told Reuters in late June.

Earlier this year, Barclays Plc (BARC.L: Quote, Profile, Research, Stock Buzz) and National Australia Bank Ltd (NAB.AX: Quote, Profile, Research, Stock Buzz) also won Beijing's approval to buy into Chinese trust partners.


(Reporting by Lu Jianxin; Editing by Anne Marie Roantree
 
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