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China launches 14.6 bln USD Internet investment fund
   2017-01-23 09:09:04    CRIENGLISH.com      Web Editor: Zhang Guanghao

China has launched a 100 billion yuan Internet investment fund.

The fund is co-initiated by the Cyberspace Administration of China and the Ministry of Finance.

It will support Internet companies and the Internet Plus action plan via equity investment.

The fund has already raised 30 billion yuan from state-owned banks and enterprises, including the Industrial and Commercial Bank of China, which invested 10 billion yuan.

Other investors in the fund include the China Development Bank and the Agricultural Bank of China.

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