BEIJING (XFN-ASIA) - Blackstone Group has expressed preliminary interest in China National Bluestar's new chemical materials assets, the official China Securities Journal reported, aciting an unidentified source.

China National Bluestar operates chemical, auto and food divisions. It controls three listed and over 10 non-listed units.

The report said the the US group plans to increase its investment in China after the launch of China's foreign exchange management agency.

Last month, the new foreign exchange management agency, which is expected to manage between 200 to 400 bln usd, made its first investment by buying up to 9.9 pct of the Blackstone Group for 3 bln usd.

In April, Anhui Guofeng Plastic Industry Co Ltd (SZA 000859) announced that Antony Leung, chairman of Blackstone Greater China and the former Hong Kong Financial Secretary, has been invited to visit the company's bio-diesel projects.