PPP fund worth $27b to start operation soon
Updated: 2016-06-21 13:26
By Yu Xiaoming(chinadaily.com.cn)
|
|||||||||
The Ministry of Finance, together with 10 financial institutions, last September jointly launched a 180 billion yuan fund that would support public-private-partnership projects.[Photo/IC] |
The 180 billion yuan ($27.38 billion) public-private-partnership (PPP) fund, which has gained extensive attention, is likely to start operation soon and drive up investment over 1 trillion yuan, the China Business News reports.
The fund's operator China Government Enterprise Cooperation Investment Fund Co Ltd is building its professional team and conducting due diligence in a bid to put the fund in place and launch project investment as soon as possible.
Some preparatory work is under way, and the final decision by the general manager has not been taken, Chairman Zhou Chengyue said during an interview with China Business News.
The company has started research on some PPP projects, including a big rail transit project in Inner Mongolia, Zhou added.
The Ministry of Finance, together with 10 financial institutions, last September jointly launched a 180 billion yuan fund that would support public-private-partnership projects.
The company's first shareholders' meeting was held in March.
According to the filing, the company's nine legal shareholders are CITIC Group Corp, Everbright Pramerica Fund Management Co Ltd, CCB principal Asset Management, China Life Insurance, Bank of China Investment Management, ABC-CA Fund Management, Band of Communication International Trust, CCB Principal Capital Management Co Ltd, and ICBC Credit Suisse Asset Management Co Ltd.
Other investors include the National Council for Social Security Fund and the Ministry of Finance. The latter has an investment of 15 billion yuan, including the first batch 6 billion yuan.
- Planned Obama, Dalai Lama meeting protested
- Gravitational waves detected for second time: scientists
- 48-hour 'silence regime' starts in Syria's Aleppo
- UN Security Council adopts resolution on Libya arms embargo
- US extradites top drug lord 'El Guero Palma' to Mexico
- Houston firm joins China clean energy project
- Cavs stun Warriors in Game 7 thriller, LeBron MVP
- Highlights of awarding ceremony of Shanghai Int'l Film Festival
- Switzerland draw with France 0-0 to reach round of 16
- Chinese folk costumes show opens in Beijing
- Fathers use bamboo strips to steer children on cliff walkway
- Photographer wants people to care for endangered animals
- Iconic pagodas turn into a dreamland in infrared photos
- Mass yoga events ahead of International Yoga Day
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
Abe's blame game reveals his policies failing to get results
Ending wildlife trafficking must be policy priority in Asia
Effects of supply-side reform take time to be seen
Chinese State Councilor Yang Jiechi to meet Kerry
Chinese stocks surge on back of MSCI rumors
Liang avoids jail in shooting death
China's finance minister addresses ratings downgrade
Duke alumni visit Chinese Embassy
US Weekly
Geared to go |
The place to be |