Reuters: China sets up $21 billion fund to upgrade manufacturing, Shanghai Sec News reports20 November 2019 | 03:08 | FOCUS News Agency
The fund, with a registered capital of 147.2 billion yuan ($21 billion), will invest in both growth-stage and mature companies in areas such as new materials, next-generation information technology (IT) and power equipment, the newspaper said.
The new fund will invest throughout the entire manufacturing industry value chain, the article said, citing Zhang Yuzhe, a researcher at the National Development and Reform Commission (NDRC).
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