Merrill Lynch will become the first foreign institution to list a mutual fund on China's exchanges, as it begins selling its latest investment product to domestic investors this week, Reuters reports.

The New York-based giant's joint venture with BOC International Investment Managers started selling its first fund on Nov. 18 and will be listed on the southern Shenzhen exchange in the first quarter of 2005. The offering is only the nation's second listed open-ended fund. BOC International Holdings, the investment Bank of China, owns 67% of the venture, while BOC and Merrill each own 16.7%.

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