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.
