A state-owned Chinese investment fund, operated by the largest national investment group State Development & Investment Corporation (SDIC), plans to allocate an additional sum of 50 billion yuan ($7.12 billion) to the country’s advanced manufacturing sector.
The Advanced Manufacturing Industry Investment Fund (AMIIF) targeted to raise 50 billion yuan in the second phase of fundraising, Chinese national newspaper China Securities Journal reported, citing a document disclosed by SDIC last Saturday.
