【双语阅读】中国批准麦格理在华成立合资信托公司

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Macquarie's Shanghai venture approved

By Peter Smith in Australia , Sundeep Tucker in Hong Kong 2009-08-28


Macquarie Group has enlarged its footprint in China, by securing approval to launch a joint venture offering corporate banking and asset management services.

The Australian investment bank has taken a minority stake in a Shanghai trust company – lightly regulated vehicles that can also make equity investments across a wide range of sectors.

Macquarie has acquired a 19.99 per cent stake in Sino-Australian International Trust Co, the maximum permitted by China's foreign investment rules, with the remainder held by two state-owned firms, Beijing Sanjili Energy and Beijing Rongda.

The decision follows those by rival western lenders, including Morgan Stanley and Royal Bank of Scotland, which have launched trust companies to help broaden their exposure to China's fast-growing financial services sector in a low-cost way.

Macquarie last week sealed its biggest foreign acquisition after agreeing to buy Delaware Investments, the US money manager owned by Lincoln Financial, for $428m.

It established a joint venture with China Everbright, a state-controlled investment company, to raise $1.5bn to invest in infrastructure projects in China, Taiwan and Hong Kong.

Macquarie is awaiting regulatory approval to enter China's domestic securities industry after signing a memorandum of understanding to form a partnership with Hengtai Securities.

The Australian group has made several principal investments in China; is a leading underwriter of overseas shares sales of mainland companies; and provides corporate advisory services and equities market research.

Andrew Low, head of Macquarie Capital Asia, said the Australian investment bank wanted to build a domestic distribution network in China and to arrange financing for international clients.

“This joint venture will allow us to extend our client service capability,” he said. Macquarie's local partners had the “relevant domestic experience, influence and leadership”.

The trust company will help companies and local government bodies raise financing. It will also provide renminbi investment products to wealthy individuals and institutional investors, with an initial capital base of Rmb300m ($44m).
Yu Jian Ping, Sanjili chairman, said China's large local savings pool gave the trust company a great opportunity.

The government estimates that the country's household savings rose by 20 per cent to Rmb20,000bn during 2008.


中国批准麦格理在华成立合资信托公司

英国《金融时报》彼得•史密斯(Peter Smith)悉尼、 森迪普•塔克( Sundeep Tucker) 香港报道 2009-08-28

麦格理集团(Macquarie Group)获准在中国成立一家合资企业，提供企业银行和资产管理服务，从而扩大了该银行在华业务。

这家澳大利亚投资银行持有一家上海信托公司的少数股份。信托公司监管宽松，还能在多个行业进行股权投资。

麦格理集团持有华澳国际信托有限公司(Sino-Australian International Trust Co)19.99%股份，这是中国所允许的外资持有股份比例上限；剩余股份由中方两家国有公司持有——北京三吉利能源股份有限公司(Beijing Sanjili Energy)和北京融达投资有限公司(Beijing Rongda)。

在麦格理作出这一决定之前，其竞争对手如摩根士丹利(Morgan Stanley)和苏格兰皇家银行(Royal Bank of Scotland)等西方银行，都在中国成立了信托公司，以低成本的方式在中国快速增长的金融服务业扩大业务。

上周，麦格理敲定了其规模最大的一项海外收购交易：以4.28亿美元收购林肯金融(Lincoln Financial)旗下的美国资产管理公司Delaware Investments。

麦格理与中国国有投资公司光大控股(China Everbright)有一个合资项目，计划融资15亿美元，投资于中国大陆、台湾和香港的基础设施项目。

麦格理与恒泰证券(Hengtai Securities)签署了一份组建合资企业的谅解备忘录，目前正等待监管部门批准，以进入中国国内证券业。
麦格理已在中国进行了多笔重大投资，是中国内地企业海外销售股份的主承销商，并提供企业咨询和股市研究服务。

麦格理资本亚洲区总裁罗安君(Andrew Low)表示，麦格理希望在中国建立国内分销网络，并为国际客户安排融资业务。

罗安君表示：“合资企业将令我们扩大客户服务能力。”麦格理的本地合作伙伴拥有“相关国内经验、影响力和领导力”。

华澳信托公司将帮助企业和当地政府机构融资。还将向富人和机构投资者提供人民币投资产品。该公司的初期注册资本为3亿元人民币（合4400万美元）。

三吉利董事长余建平表示，中国的巨额国内储蓄给予该信托公司巨大的机遇。

中国政府估计，2008年期间中国家庭储蓄余额增长20%，至20万亿元人民币。


译者/君悦