China Business News: Guangdong Midea to set up RMB 500-mln financial firm

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Guangdong Midea to set up RMB 500-mln financial firm

Jul. 14, 2009 (China Knowledge) - Guangdong Midea Electric Appliances Co<000527> on Thursday announced that its parent, Guangdong Midea Group, a leading home electronic appliance maker, has won approval from the China Banking Regulatory Commission (CBRC) to establish a financial firm as part of the group's effort to expand in the financial sector. The planned company, Midea Financial Co, wi

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