BRIEF-Jiangsu Rainbow Heavy Industries' unit plans buyout fund with partners

April 28 (Reuters) - Jiangsu Rainbow Heavy Industries Co Ltd

* Says unit plans to invest 120 million yuan ($17.41

million) to set up buyout fund with partners

Source text in Chinese: http://bit.ly/2qmmfBX

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($1 = 6.8938 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)