Jane Chen / Shanghai Daily news

Shenzhen-based China Merchants Fund Management Co Ltd has expanded to become China's biggest fund management firm in terms of capital, after it increased its capital holdings from 100 million yuan (US$12.9 million) to 160 million yuan, Eastday.com reported.
The investment structure remains the same as before the capital infusion, the report said.
With investment from ING Group, CMF is the country's first joint-venture fund manager.  In the first three months, fund units under its management grew by 112 percent to 30 billion, making CMF one of China's top 3 fund managers.  The units were valued at nearly 40 billion yuan, according to its financial reports.