Home » The third section of the nationwide tremendous fund with a registered capital of 344 billion yuan was established_China Securities Network

The third section of the nationwide tremendous fund with a registered capital of 344 billion yuan was established_China Securities Network

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Major State-Owned Banks to Invest 114 Billion Yuan in National Integrated Circuit Industry Fund

A major funding is on the horizon as six main state-owned banks in China have introduced plans to speculate an estimated 114 billion yuan within the National Integrated Circuit Industry Investment Fund Phase III. The Industrial and Commercial Bank of China, the Agricultural Bank of China, the China Construction Bank, the Bank of China, the Bank of Communications, and the Postal Savings Bank of China will contribute to a complete stake of 33.14% within the fund.

According to the National Enterprise Credit Information Publicity System, the National Integrated Circuit Industry Investment Fund Phase III Co., Ltd. was established on May 24 with a registered capital of 344 billion yuan. The fund will deal with non-public fairness funding fund administration and company fund administration companies, partaking in actions resembling fairness funding, funding administration, asset administration, and enterprise administration consulting.

The formation of the third section of the fund consists of key shareholders such because the Ministry of Finance, China Development Bank Financial Co., Ltd., Shanghai Guosheng (Group) Co., Ltd., and the aforementioned state-owned banks. This marks the primary time the six main state-owned banks are among the many shareholders of a authorities fund.

In line with authorities initiatives to advertise the event of the built-in circuit business, the funding by the state-owned banks is seen as a strategic transfer to help the actual economic system and drive sustainable financial and social improvement. It can also be a big step in fulfilling the banks’ obligations and contributing to the expansion of economic companies.

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The National Integrated Circuit Industry Investment Fund has been established twice earlier than, with the registered capital of the third section exceeding the mixed registered capital of the primary and second phases. This underscores the significance and scale of the funding being made by the six main state-owned banks on this essential sector.

Overall, the funding by these banks displays a dedication to supporting key industries and driving innovation and financial development in China. The transfer is anticipated to have a big impression on the event of the built-in circuit business and contribute to the nation’s technological development and competitiveness within the world market.

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