China Reform Holdings Corp., a state asset manager, is planning a development fund worth at least 100 billion yuan ($13.7 billion) to invest in strategic emerging industries, China Business News reported, citing the company.
The fund has received investment intentions from more than 20 government-owned enterprises, provincial administrations and social capital, according to the report. It is expected to start operating within the year, China Business News said.
More investment in strategic emerging industries is one of the major tasks in the new round of China’s state-owned enterprises reform.
