Home  |  News  |  Photo  |  Video   |  Travel  |  Learn Chinese  |  Opinions  |  EZFM  |  NEWS Plus  |  CHINA PLUS
China launches $14.6 billion Internet investment fund
   2017-01-22 22:48:54    Xinhua      Web Editor: Ding

A ceremony is held in Beijing for the launch of China's state-backed Internet investment fund, Jan. 22, 2017. [Photo: Xinhua]

China on Sunday launched a 100 billion yuan (about 14.6 billion U.S. dollars) Internet investment fund.

 

The fund, jointly launched by Cyberspace Administration of China and Ministry of Finance, is aimed at supporting Internet companies and the ˇ°Internet Plusˇ±, which is a Chinese action plan to apply internet-relevant technologies in conventional industries, via equity investment, according to the Industrial and Commercial Bank of China (ICBC), one of the major investors in the fund.

 

The fund has already raised 30 billion yuan from state-owned banks and enterprises, including the ICBC, which invested 10 billion yuan.

 

The ICBC, together with the China Development Bank and the Agricultural Bank of China, will provide financial services and 150 billion yuan of credit to enterprises that have attracted investment from the fund.

 

The China Internet Network Information Center claims that China's Internet population has hit 731 million last year, with 695 million of them using mobile devices.

Share

               


CRIENGLISH.com claims the copyright of all material and information produced originally by our staff. No person, organization and/or company shall reproduce, disseminate or broadcast the content in any manner whatsoever without the express written permission of CRIENGLISH.com.

CRIENGLISH.com holds neither liability nor responsibility for materials attributed to any other source. Such information is provided as reportage and dissemination of information but does not necessarily reflect the opinion of or endorsement by CRI.

                         
News
China
World
Politics
Business
Sports
Showbiz
Sci-tech
Photo
Recommended
China
World
Sports
Showbiz
Travel
Video
C4
The Sound Stage
Showbiz
Travel
China Revealed
My Chinese Life
Travel
Destinations
Photo Gallery
Recommended
Learn Chinese
"In" Chinese
Chatting in Chinese
Pop Culture
Traditional Culture
Living Chinese
Chinese Studio
Chinese Class
Learn English
Special English
Pop Chart
Everyday English
Fabulous Snaps
CRI News
China.org.cn  | Xinhua  | People's Daily Online   |  CNTV.cn  | China Daily  |  Global Times  | China Job  |  China Tibet Online  | Taiwan.cn  | eBeijing  | Beijing Today  | China-Eurasia Expo  | APEC Yiwu Conference  | Chinese Embassy in S.Africa  | Chinese Embassy in Australia  | Chinese Embassy in NZ