China-Pakistan joint venture launched in E Pakistan

2007-12-27 03:29:17 Xinhua English

ISLAMABAD, Dec. 27 (Xinhua) -- The Pak-China Investment Company (PCICL), the first joint venture between Pakistan and China in financial sector, was launched Thursday in eastern Pakistan's Lahore city.

A launch ceremony was held at the governor house in Lahore, capital of Punjab province, marking that the company founded in July become operational in the country.

The joint venture, split 50:50 between the two sides, will perform investment banking business on commercial basis in the financial, infrastructure, services, mining, industrial manufacturing and non-manufacturing sectors in Pakistan with registered capital of 200 million U.S. dollars.

The ceremony was attended by the governor of Punjab Lt. General Khalid Maqbool, Minister for Finance and Economic Affairs Dr. Salman Shah, Chinese ambassador Luo Zhaohui and other senior officials.