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China International Capital Corporation (CICC) is China’s first international investment bank to receive a licence from the central bank, the People’s Bank of China (PBOC). Capitalized at $100 million, it was officially launched at a ceremony in Beijing’s Diaoyutai State Guest House last October. It also marks the first time in its 61-year history that Morgan Stanley has entered into a formal joint-venture agreement. The Wall Street house broke a lot of its own rules to do so. |
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