Lao Feng Xiang to Set Up Hong Kong Subsidiary for $200 Million

MT Newswires Live06-13

Lao Feng Xiang (SHA:600612, SHA:900905) plans to invest $200 million to establish a subsidiary in Hong Kong, according to a Shanghai bourse filing on Friday.

The subsidiary, to be named Lao Feng Xiang Hong Kong, will be a seller of gold and silver products, as well as arts and crafts products, the Chinese jewelry company said.

Lao Feng Xiang's A shares dropped over 2% in recent trade.

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