Fund to give new impetus to upgrade
China has set up the second phase of its national advanced manufacturing investment fund, with a size of 50 billion yuan ($7.12 billion), in order to inject new vitality into the nation's push for high-end manufacturing, according to State Development & Investment Corp, China's largest State-owned investment holding company.
The move came after the first-phase manufacturing fund of 20 billion yuan was invested in companies engaged in railway equipment, industrial robotics, new energy vehicles and other sectors.
A report published by SDIC said the second-phase fund will help accelerate companies' efforts to move up the global industrial value chain and push the country's transformation from a big manufacturing base into a strong manufacturing power.
