IN BRIEF (Page 14)

Shipping fund on cards

Tianjin, the test bed for national financial reform, will launch the long-awaited shipping industrial fund soon, Chen Zongsheng, the municipality's deputy Party secretary said. "The 20-billion-yuan fund is in the pipeline, with the fund raising efforts on track. The first-stage investment raised may vary between 3 to 5 billion yuan," Chen said.

Patek Philippe plan