China Reform leads launch of $21.7B state-owned enterprises fund

China Reform leads launch of $21.7B state-owned enterprises fund

Opera house in Guangzhou.

Guangzhou Industrial Investment Fund Management Company (Guangzhou Fund), China Reform Holdings Co., Ltd and Shanghai Pudong Development Bank Co. Ltd. have jointly established an RMB150 billion (US$21.7 billion) investment fund. geared to invest and support reforms of state-owned enterprises.

According to details announced, this new is fund geared towards financially supporting reforms of state-owned enterprises (SOEs) in China. With the first phase investment of RMB 50 billion, it plans to complete the deployment of capital within a period of three to five years, in accordance with the fund operations mandate.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter