Fund planned for Caofeidian

An industrial investment fund will be established before the year's end to finance Caofeidian industrial area, Tangshan city government's secretary said.

The Caofeidian Industrial Investment Fund was approved by the National Development and Reform Commission to raise 30 billion yuan to finance industries in Caofeidian, a development zone in North China.

"We are making great efforts to establish a financial platform to power the development of companies and industries in Caofeidian," Tangshan city government Secretary Zhao Yong said.