Plant Iran

April 13, 2010

In a new round of economic cooperation between Iran and China and with the intention of eliminating various banking and financial setback within the private sector of the two countries, Iran’s private sector has purchased stock in an area of the Chinese banking system.

, former business partner of Marc Rich and head of the Iran/Russia and Iran/China Chambers of Commerce confirmed the report: “Based on various agreements in a joint commission between the two countries, the proposal for the establishment of a jointly owned bank has been put forth. The Iranian Bank Melli (the National Bank) has made the proposal to institute the bank which we hope to see happen quickly. In order to facilitate banking relations, the next step was for the Iranian private sector to purchase Chinese bank stocks. Our private sector is interested in purchasing more stocks in the financial and credit areas as owning 20% stock in one company or firm will provide us with the opportunity to own a seat on the board of directors of that firm.”

Iranian regime-run MEHR News Agency reports that so far Iran has purchased up to 5% of stocks in several Chinese banks.