China approves Morgan Stanley as actual controller of Chinese JV
BEIJING, Feb 3 (Reuters) -Morgan Stanley MS.N has received China securities regulator's approval to be the actual controller of its Chinese fund management firm Morgan Stanley Huaxin Fund Management Co Ltd (MSHF), the regulator said on Friday.
China has also given approval for Morgan Stanley International Holdings Inc to invest 127.5 million yuan ($18.92 million) in the fund management firm, accounting for a 51% stake of its registered capital, the China Securities Regulatory Commission said.
The Shenzhen headquartered MSHF was jointly set up by Morgan Stanley and its partner Huaxin Securities in 2008, according to the company's official site.
($1 = 6.7380 Chinese yuan renminbi)
Reporting by Hong Kong newsroom. Editing by Jane Merriman
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