October 23, 2018 / 3:52 AM / 25 days ago

Nomura, Chinese government to set up a 150 billion yen fund - source

TOKYO, Oct 23 (Reuters) - Nomura Holdings and a Chinese government fund are in the final stages of setting up a 150 billion yen ($1.3 billion) fund, according to a source with direct knowledge of the plan.

They aim to reach a basic agreement on Oct. 26, during Prime Minister Shinzo Abe’s meeting with President Xi Jinping in Beijing, the source said, asking not be identified because the information wasn’t official yet.

The fund will be used for infrastructure projects in other Asian nations, national broadcaster NHK said.

The two entities are aiming to gather funds from Japanese megabanks such as Mitsubishi UFJ Financial Group and life insurers, the source said.

$1 = 112.5300 yen Reporting by Taro Fuse, Writing by Malcolm Foster Editing by Shri Navaratnam

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