China on Tuesday set up a national fund
to facilitate the mixed-ownership reform of its state-owned enterprises
(SOEs), according to the country's top state assets regulator.
a total of 200 billion yuan (about 30.56 billion U.S. dollars), the
fund aims to raise 70.7 billion yuan in the first phase, according to
the State-owned Assets Supervision and Administration Commission
The fund was jointly
established by the China Chengtong Holdings Group Ltd, a centrally
administrated SOE pilot for state-owned capital operations, and other
shareholders, expanding channels for social capital to join the
mixed-ownership reform of SOE, the SASAC said.
making equity investments, the fund will focus on national strategic
areas, competitive areas, scientific and technological innovation, and
key parts of industrial chains. It is to improve the operating
efficiency of state-owned capital and boost the vitality of all market