IN BRIEF (Page 14)

Investment JV

Huaneng Capital Services, a subsidiary of China's largest electricity producer China Huaneng Group, yesterday formed a joint venture with Invesco WL Ross to tap into private-equity investment in power generation.

With 50 million yuan in registered capital, the newly established Huaneng Invesco WLR is a 50-50 joint venture owned by Huaneng Capital Services and Invesco WL Ross, a subsidiary of the Atlanta-based Invesco Ltd, which manages $461 billion worth of assets in 20 countries.