July 13, 2018 / 3:45 AM / 5 months ago

BRIEF-China CITIC Bank, Baidu fintech JV to boost capital by up to $300 mln - regulator

July 13 (Reuters) - China's banking and insurance regulator said in an online statement on Friday:

* approves AiBank, a joint venture launched by China Citic Bank Corp and search engine giant Baidu Inc , to increase shareholders equity by no more than 2 billion yuan ($299.75 million)

* approves Citic Bank to invest 1.4 billion yuan in this round of capital raising (Reporting By Reuters China finance team; Editing by Sunil Nair)

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