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With Lv liqiu, Tan Weihong and Lv Fang and Xie Simeng as legal counsel, China Great Wall Asset Management Corporation purchased 67% share of Xiamen Securities with 1.58 billion yuan and thus become its largest shareholder. Future capital may rise to 5 billion yuan.

Founded in October 1999, China Great Wall Asset Management Corporation is one of the four asset management corporations financed by Ministry of Finance with the approval of State Council at the end of the last century, in order to cope with Asian financial crisis and promote reform and development of SOE and SOB. Headquartered in Beijing, Great Wall Asset Management Corporation is a wholly state-owned non-bank financial institution with registered capital of 10 billion yuan. Guantao has long been its permanent legal counsel. After this share purchasing, Great Wall become the first asset management company which is licensed to run banking, securities, insurance, trust and leasing business.