ANNOUNCED AS TEMPORARYNo
On May 16th 2017, The China News Service announced the establishment of a 21.78bn USD (150bn CNY) fund for use by state-operated enterprises (SOEs) to invest in new technologies and make the firms more globally competitive.
The fund will be jointly controlled by the China Aerospace Science and Technology Corporation (CASTC) and the State-owned Assets Supervision and Administration Commission of the State Council.
Affected sectors are taken from comments made by CASTC general manager, Wu Yansheng, at the launch ceremony of the fund.
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