CITIC Pac parent says won't sell down stake in unit

BEIJING, March 5 (Reuters) - The parent of steel-to-property conglomerate CITIC Pacific Ltd (0267.HK) has no plan to sell down its stake in the listed arm after increasing it under a recent rescue plan, the parent's chairman Kong Dan told reporters on Friday.

CITIC Group, China's top financial conglomerate, boosted its stake in CITIC Pacific as part of a rescue package after the firm racked up losses from unauthorised foreign exchange trading. ($1=6.83 Yuan) (Reporting by Li Hongwei and Edmund Klamann)