Guangzhou establishes $1.5b urban rail transport public fund

A 10 billion-yuan ($1.51 billion) urban rail transport public fund will be established in Guangzhou, the capital of Guangdong province, to finance the development of the city's urban rail transport industry.

The new fund will invest in rail transport projects, helping integrate resources related to the urban rail transport industry and pave the way for a sustainable development of the industry, according to Han Ying, chairman of the Guangzhou Industrial Investment Fund Management Co.

The fund was established by the Guangzhou Industrial Investment Fund Management Co and a number of local companies related to the urban rail transport industry, with an initial capital of about 2 billion yuan.