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China Daily | Updated: 2018-06-13 07:21

New fund to bolster emerging sectors

China's National Development and Reform Commission and China Construction Bank Corp will jointly set up a fund to promote the development of national-level strategic emerging industries. With a target value of about 300 billion yuan ($47 billion), the fund will be invested in a number of strategic emerging industries, such as next generation information technologies, high-end equipment, new material, biology, new energy vehicles, the energy conservation and environmental protection industry, and the digital creative industry, the National Development and Reform Commission said in a news release on Tuesday. To achieve this goal, the commission will establish a strategic partnership with China Construction Bank, the nation's second-largest State-owned commercial lender by assets.

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