Fubon strikes cross-strait JV deal in China

After a decade-long, low-profile presence through its representative office in China, Taiwanese monolith Fubon Financial Group has scored a notable success. Through its securities-brokerage arm, Fubon is setting up an asset-management joint venture with Founder Securities in Beijing. Founder will own two-thirds of the shares of the new entity and Fubon one-third. The two companies will contribute total capital of Rmb200 million ($29 million) for the JV's set-up in the initial stage -…