Manufacturing News

China to spend $21 billion to upgrade its manufacturing industry

By Samuel Shen and John Ruwitch for Nasdaq

Nov 20, 2019

China has set up a $21 billion national investment fund to promote the transformation and upgrading of the country's manufacturing industry, the official Shanghai Securities News reported on Wednesday.

The fund, with a registered capital of 147.2 billion yuan ($21 billion), will invest in both growth-stage and mature companies in areas such as new materials, next-generation information technology (IT) and power equipment, the newspaper said.

The new fund will invest throughout the entire manufacturing industry value chain, the article said, citing Zhang Yuzhe, a researcher at the National Development and Reform Commission (NDRC).

To learn more, read "China sets up $21 bln fund to upgrade manufacturing - Shanghai Sec News" from Nasdaq.