It is the first fund in the country which focuses on investment in the China (Shanghai) Pilot Free Trade Zone (FTZ), eastday.com reports. The fund will raise a total of USD 817 million (CNY 5 billion) and is initiated by the Shanghai Lujiazui Finance and Trade Zone Development, Shanghai Waigaoqiao (Group), China Cinda Asset Management and China Orient Asset Management Corporation state owned-enterprises.
Yang Xiaoming, chairman of Shanghai Lujiazui Finance and Trade Zone Development, has claimed that the fund will mainly concentrate on investment in modern logistics and warehousing, commercial real estate, cross-border ecommerce, imported goods direct sales center and cultural product trading platform within the free trade zone (FTZ). The fund, with a mixed ownership, will promote the financial capital to cater for the real economy, service industry and urban infrastructure.
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