Bohai Industrial Fund Broadens Investment Scope
SHANGHAI, Nov 13, 2009 (SinoCast Daily Business Beat via COMTEX) --
Bohai Industrial Investment Fund Management Company inked a strategic partnership agreement with Sichuan provincial government, aiming to expand investment scope and gear up operation efficiency.
The two sides will work together on trust investment, direct equity investment, supporting the development of Bank of Chengdu, public service, finance consulting, advisory service and the like.
The Bohai fund was designed to invest in Binhai area, a coastal region in Tianjin, but then was allowed to extend reaches to the Bohai Sea area after rounds of discussions. The cooperation with Sichuan indicates the fund is seeking a broader investment scope.
China's National Development and Reform Commission has greenlighted the establishment of a shipping industry investment fund in Tianjin. It is the second industrial investment fund set up in the Binhai New Area.
The commission, together with the Ministry of Finance, joined forces with seven provinces and municipalities like Shanghai, Chongqing and Anhui to create 20 industrial investment funds with an initial financing of CNY 9.2 billion.
Source: dycj.ynet.com (November 13, 2009)
Copyright (C) 2010 SinoCast. All rights reserved
News Provided by COMTEX
Related terms: bank, china, consulting, finance, government, industrial, investment, partnership, shanghai, shipping, SinoCast China Business Daily news, fund, industrial investment, scope, equity, Binhai area, partnership
