Hunan establishes Belt and Road investment fund
A 168 million-yuan ($25.43 million) industrial fund was established in Hunan province capital of Changsha on Nov 22, to promote the construction of the Belt and Road Initiative.
Changsha Jinxia Bonded Logistics Center management committee signed with limited partners to set up the Hunan Silk Road Industrial Investment Fund, with the former investing 50 million yuan and the two partners 118 million yuan.
Focusing on the national initiative, it marks the country's first local government-guided fund cooperating with private firms.
The signing ceremony of the Hunan Silk Road Industrial Investment Fund is held in Changsha, Hunan province on Nov 22. [Photo/icswb.com]
"Since established, the fund will be operated independently by markets," said Hou Lingxin, director of Changsha Jinxia Bonded Logistics Center management committee. "It is not designed to maximize the benefits, but rather carry on the strategic significance."
It aims to promote the import and export trade of Hunan province, support enterprises for export rebate financing, and provide services, which mainly serve companies and projects involving supply chain finance, commercial factoring, the Belt and Road Initiative and international logistics.
"The fund will also help explore a new path of optimizing foreign trade structure," Hou added.
In addition, a number of enterprises including China National Light Industrial Products Import and Export Corporation, Inspur, Gome and Digital China inked strategic cooperation agreements with Hunan Silk Road Industrial Investment Fund, worth a total value of 48.8 billion yuan.
Other highlights at the signing ceremony included the launching of an offshore digital service platform, committed to offering comprehensive services for companies and institutions involved.
Source: Changsha Evening News