China-New Equity group with farming interests.

CHINA-NEW INVESTMENT.

Equity Group is planning to raise as much as $500 million in coming months to invest in agriculture, the New Zealand Herald reported, citing Chief Executive Officer Wang Chaoyong.

New Zealand and Australia will be important markets for the proposed private equity fund which will invest globally, Wang said in an interview with the newspaper.

ChinaEquity already has a natural resources fund with interests in mining and cattle farming in Australia and agriculture in Brazil, the Herald reported.

Retailing and food and beverage industries will continue to perform well during the global downturn, Wang said, according to the newspaper.