Apr. 11, 2008 (China Knowledge) - U.S. investment bank Merrill Lynch & Co., Inc is looking to expand its China portfolio to areas including a brokerage business as the nation is critical for its global development, said company CEO John Thain on Thursday.

The bank plans to introduce its full range of businesses into China, the world's fourth major economy, and one of those is a  brokerage business, Thain said. As part of the plan, it will further expand its wealth management and investment banking business in China.

However, he did not reveal whether the lender is in talks with any local brokerages for possible partnerships.

Merrill has raised about US$12.8 billion mainly from Asian market in recent months in an effort to shore up its balance sheet.