China aims to raise $13.7 billion to invest in emerging industries
- September 25, 2023
- Posted by: Quatro Strategies
- Categories: Business & Politics, China, Sanctions & Regulation
China Reform Holdings Corp, a major Chinese state asset manager, is planning to raise a substantial fund of at least 100 billion yuan (approximately $13.70 billion). This fund will be directed towards investments in emerging industries, as reported by China Business News.
The initiative has already garnered investment interest from over 20 central government-owned enterprises, local governments, and private investors. The fund is slated to commence operations by the end of the current year.
This move aligns with a broader trend in China, where state-owned enterprises (SOEs) are increasingly focusing on investments in emerging and strategic sectors such as artificial intelligence, new energy, new materials, and biotechnology. This is part of Beijing’s efforts to reform the SOEs and modernize them to be at the forefront of innovation and growth.
China Reform Holdings, established in 2021, holds a critical role in advancing these reforms within the state-owned enterprise sector. As of the end of 2022, the company managed nearly 860 billion yuan of assets, underscoring its significant presence in managing state assets and furthering economic goals in line with national strategies.
By QUATRO Strategies International Inc.
QUATRO Strategies International Inc. is the leading business insights and corporate strategy company based in Toronto, Ontario. Through our unique services, we counsel our clients on their key strategic issues, leveraging our deep industry expertise and using analytical rigor to help them make informed decisions to establish a competitive edge in the marketplace.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Two Chinese Tesla Suppliers investing $1 billion in northern Mexico
Two Chinese suppliers for Tesla are planning to invest nearly a billion dollars in Mexico’s northern state of Nuevo Leon, where Tesla is gearing up to construct a new factory. The substantial investments come from Ningbo Tuopu Group, with a commitment of $700 million, and…
Lithium startups looking for government money after private funds fade
For years, lithium startups have experienced relatively easy funding, largely supported by battery users and venture capitalists looking to secure a reliable source of lithium and invest in cutting-edge extraction technologies. These startups, at the forefront of next-generation extraction methods…
EU nations push for more flexible gas storage deadlines
European Union countries are actively discussing revisions to the bloc’s binding gas storage rules, as concerns grow that the existing mandates are inflating gas prices. A negotiating document suggests that member states, including Germany, France, and the Netherlands, fear that fixed deadlines for filling gas storage are signaling to markets that European buyers must secure large volumes of fuel by a set date, creating opportunities for price manipulation.
Currently, the EU requires member states to fill gas storage to 90% of capacity by November 1 each year. However, countries are now considering modifying this rule to allow a more flexible range, proposing a deadline that falls anywhere between October 1 and December 1. The proposal would also make intermediate storage targets voluntary, instead of binding, to prevent unnecessary market distortions.