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
UK, South Korea extend low-tariff trade deal for two years
Britain and South Korea have reached an accord to extend a period of low or zero tariffs on their bilateral trade for an additional two years. This development comes just before the commencement of talks aimed at forging a new trade deal between the two nations. The existing trade agreement between…
AI build-out isn’t dead, but investors just repriced the speed
The air came out of the chip trade in a hurry. After months of near-vertical gains, semiconductor shares finally balked at the altitude, with AMD’s softer-than-hoped guidance acting as the trigger rather than the cause. A 4% pre-market slip in AMD bled into a broad selloff, knocking the Philadelphia Semiconductor Index after its most ebullient stretch since spring.
The weakness echoed across regions: Taiwan’s TSMC and Korea’s Samsung slid, and Europe’s equipment leaders ASML and ASM International gave ground as well. What changed isn’t the existence of the AI build-out, it is investors’ tolerance for paying ever richer multiples before cash flows catch up.
EU and Mercosur nearing completion of historic trade agreement
The European Union (EU) and Mercosur, the South American customs union consisting of Argentina, Brazil, Uruguay, and Paraguay, are on the verge of finalizing a major trade agreement after over two decades of negotiations. This potential deal, one of the largest in the history of the EU…