December 29, Gao Yunhan form the Press Department of China Development Bank (CDB), said CDB’s securities unit is under preparation, but it’s not sure if the unit would be officially launched in January. CDB’s acquisition of Aviation Securities Co. will set a precedent for the domestic commercial bank’s directly holding of a securities firm.

　　CDB’s acquisition of Aviation Securities Co. has became a hot spot. Currently, CDB has set up a preparatory group for the securities firm to study the specific programs of the integration, personnel arrangements and capital injection. Aviation Securities’ research division may expand to be a research institute after the acquisition, and CDB will expand its power by integrating with other brokerages later.

　　According to a CDB official, who decline to be named, Aviation Securities may have a new name, but it won’t be “National Bank of Investment", which has been speculated on the market.

　　In early 2008, the State Council had already approved CDB’s overall reform program, after conversion into shareholding company, CBD could set up two subsidiaries, direct responsible for investment and investment banking business respectively. Now, CDB already estbalished its financing unit -the National Finance Development Corporation.

　　Guo Tianyong, director of the China Banking Research Center of the Central University of Finance, believes that against the backdrop of the tight approval of the domestic brokerage, CDB could engage in investment banking business only through a curve acquisition.

　　Aviation Securities is an integrated securities firm, formally belong to China Aviation Industry Group Corporation, with a registered capital of 520 million yuan.