China Hongyuan Securities, Everbright Bank in tie

SHANGHAI, Reuters (March 8) - China's Hongyuan Securities 000562.SZ said on Saturday it had agreed to form a "strategic partnership" with China Everbright Bank, which plans to list in Shanghai in the second half of this year.

The companies will share resources and cooperate in areas including asset management, bond business, investment banking and the development of new businesses, the mid-sized brokerage said.

Last month, mid-sized Everbright Bank named Hongyuan as a financial adviser for its Shanghai initial public offer.

China Everbright Group, parent of the bank and of Everbright Securities, intends to expand in a range of financial services through mergers and acquisitions, group chairman Tang Shuangning said on Monday. It has an insurance venture and plans to buy a trust company this year. (Reporting by Andrew Torchia; Editing by Tomasz Janowski)