According to the China Business News, China Reform Holdings Corp, a Chinese manager of state assets, plans to raise at least 100 billion yuan ($13.70 billion) for a fund that will invest in emerging industries.
As per to the newspaper, the fund has already received investment intentions from more than 20 central government-owned enterprises, as well as local governments and private investors, and will begin operations by the end of this year.
As part of Beijing's SOE reforms, China's state-owned enterprises (SOEs) have increased investment in emerging and strategic industries such as artificial intelligence, new energy, new materials, and biotech.
China Reform Holdings was set up in 2021 and tasked with deepening SOE reforms. It managed nearly 860 billion yuan of assets at the end of 2022, according to the company's website.
.jpg "Technology in Cancer Care: A story of evolving paradigms")
.jpg "Bringing Shop Floor to Manufacturer's palm: Smart Factory Solutions for tomorrow")
