China debuts $7.6b FoF for culture industry; Shanghai sets up $1.5b vehicle

China debuts $7.6b FoF for culture industry; Shanghai sets up $1.5b vehicle

Shanghai, China

China has introduced a 50 billion yuan ($7.6 billion) fund of fund (FOF) to invest in its culture industry, while Shanghai has set up a billion-dollar industry investment fund for smart manufacturing investments.

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