China Minsheng Investment Corp. Launches with ¥50B
August 26, 2014
China Minsheng Investment Corp. launched last week with ¥50 billion ($8.1 billion) in capital, already making it one of China’s largest investment entities. The firm is led by Dong Wenbiao, who recently resigned as head of China Minsheng Banking, which is not legally connected to CMIC. A significant portion of the money will reportedly go toward private equity investing with targets in renewable energy, iron and steel, mining logistics, real estate, property management, corporate aircraft, investment banking, strategic equity investment and overseas investment. A total of 59 investors, with combined assets of ¥1 trillion ($162 billion), provided backing.