Dhaka — A Chinese-owned capital management firm, CBC Capital & Equity Management Ltd., was launched in Dhaka on Tuesday, offering a new platform for Chinese enterprises to enter the Bangladeshi capital market.

Chinese Ambassador to Bangladesh Li Jiming said the launching of this new firm creates a capital management platform dedicated to providing merchant banking services to Chinese and other foreign investors in Bangladesh.

“It will play a vital role in boosting the confidence of foreign investment to Bangladesh and contributing to the development of the country’s capital market,” he said.

Noting that the rapidly developing Bangladeshi economy is an attractive investment destination for Chinese investors, the ambassador said he hoped the two countries will build a win-win partnership through capital and equity management cooperation.

Bangladeshi Ambassador to China Mahbub Uz Zaman congratulated on the establishment of the company and said Bangladesh posted an impressive GDP growth of 6.94 percent in the 2020-21 fiscal year despite the COVID-19 pandemic.

The China-proposed Belt and Road Initiative has been one of the components for meeting Bangladesh’s investment needs, including filling up the infrastructure gaps, he said.

The new capital management firm will focus on corporate finance, mergers and acquisitions advisory, sales and trading of stocks, asset management and investment research.

• Xinhua