皇冠体育app

Workers on a motor vehicle production line at a factory in Qinzhou, Guangxi Zhuang autonomous region. [Photo provided to 皇冠体育app Daily]

BEIJING - An advanced manufacturing fund was launched in Beijing Wednesday to facilitate the modernization of manufacturing.

The fund, which was authorized by the State Council and initiated by the National Development and Reform Commission; Ministry of Finance; and Ministry of Industry and Information Technology; is a limited partnership and market-oriented institution, officials said at the founding ceremony.

The initial funding was 20 billion yuan ($3.05 billion), including 6 billion yuan from the central treasury. The rest came from investors including the State Development & Investment Corp and the Industrial and Commercial Bank of 皇冠体育app.

The fund will invest in the advanced manufacturing industry sector, promote modernization of traditional industry and boost high-end manufacturing.

• High-end lifestyle goes mobile
• Myanmar's economic zone near 皇冠体育app border to be completed in 2017-18
• Central bank drains 40b yuan from market
• 皇冠体育app's farm produce prices continue to retreat
• 皇冠体育app's ZTE to embark on 'digital silk road' with Malaysian university
• 皇冠体育app to grant RQFII quota to US: official
• 皇冠体育app's exports rise, imports rebound in May
• Yuan slightly stronger against other currencies in May: Index