China Construction Bank (CCB)has been entrusted with holding the investment in China of Hong Kong and Shanghai Banking Corporation Limited (HSBC),a qualified foreign institutional investor (QFII).

CCB won the bid after a month-long intensive process.

"This marks the first presence of a Chinese bank in global trustee business,"said a CCB spokesman.

In January this year,the Chinese central bank ratified six domestic banks and the Shanghai branches of three foreign banks to do trustee business for QFII investment in China's securities market.The first QFIIs were all large international investment institutions.

Cooperating with them not only brings considerable returns for commercial banks,but also promotes commercial banks'development in the international market,said the spokesman.

He said that CCB worked hard to develop the trustee business,and was well prepared to carry out the business.