The Commonwealth Bank of Australia (CBA) activated its funds management partnership with China Cinda Asset Management Corporation (Cinda) yesterday as it moved to broaden capabilities in that country, The Wall Street Journal reported. The partnership was created in April through CBA's fund management arm, Colonial First State Global Asset Management, and is the first funds management venture in China for the bank. The fund joint venture, wit registered capital of 100 million yuan would be set up in Shenzhen as agreed. The initial focus of the venture will be on managing retail funds invested into domestic Chinese equities and fixed interest. Meanwhile, China Cinda Asset Management Corp., one of China's four state asset-management companies, said Thursday that it has received government approval to set up a brokerage house, which may begin operations by year end. Cinda President Tian Guoli said the brokerage unit will be called Cinda Securities Co. and likely have registered capital exceeding one billion yuan.