Money - International
China to launch US$47b fund for investment in strategic, emerging industries, says state planner
A Chinese national flag flies in front of the China Construction Bank (CCB) Tower at Hong Kongs business Central district in this December 26, 2014 file photo. u00e2u20acu201d Reuters pic

BEIJING, June 12 — China’s state planner said today it would jointly launch with China Construction Bank 300 billion yuan (US$46.88 billion, RM187 billion) worth of funds for investment in strategic and emerging industries <0939.HK><601939.SS>.

Industries for investment include information technology, advanced equipment, new materials and new energy vehicles, the National Development and Reform Commission said on its website. Most of the industries it mentioned are part of "Made in China 2025” initiative. — Reuters

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