$1.1 billion fund being created to help German, Chinese M

Two leading business associations from China and Germany have agreed to establish a fund with an initial capital of 1 billion euros ($1.11 billion) to better serve merger and acquisition activity between the two nations.

China Mergers & Acquisitions Association and German Federal M&A Association said they plan to establish an cooperative base in Northeast China, most likely in one of the region's equipment manufacturing industrial parks.

Cooperation offices will also be opened in Beijing and Munich, which are expected to provide companies with services including risk evaluation, identifying potential business partners, financing and legal assistance.