ANNOUNCEMENT 16 May 2017
May 16th 2017 - The China News Service annouced that a government-managed fund for state-owned enterprises of 21.78bn USD had been set up to promote modernisation in such firms.
NUMBER OF INTERVENTIONS
China Aerospace Science and Technology Corporation, May 16th 2017. (中新社：中国航天科技集团等中央企业创立1500亿元国创基金)
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.