Beijing-based private equity firm ChinaEquity Group says it has won regulatory approval to list its RMB investment business on China's National Equities Exchange and Quotations (NEEQ), or the New Third Board. Founded in 1995 by Wang Chaoyong, ChinaEquity Group has cumulatively managed RMB5.4 billion (US$850 million) in RMB assets, mostly investing in the high-tech, consumer, healthcare, environmental protection, new energy and cultural sectors in China. The firm makes early-stage to late-stage investments, having backed Chinese online download manager Xunlei, entertainment firm Huayi Brothers Media Corporation, and healthcare company Health-100.