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China's Industrial Securities sues clients over stock pledges

China's Industrial Securities Co. Ltd. sued two clients for 90 million yuan over a dispute involving pledged stock.

The case against Wang Nandong and He Lichan will be heard in the Higher People's Court in China's Fujian province, according to an Oct. 9 release.

The company added the proceedings do not for now have a significant impact on its operations, and financial and solvency status.

No further details were available.

As of Oct. 9, US$1 was equivalent to 6.92 Chinese yuan.