BUSINESS China's central SOEs spend 22.58 bln yuan in poverty alleviation

BUSINESS

China's central SOEs spend 22.58 bln yuan in poverty alleviation

Xinhua

20:43, April 14, 2020

BEIJING, April 14 (Xinhua) -- China's Central SOEs Industrial Investment Fund for Poor Areas had invested in 91 projects in poverty-stricken areas by the end of March, with total investment of 22.58 billion yuan (about 3.2 billion U.S. dollars), official data showed Tuesday.

fcb9b7abfdf147808a45ba2f922ae1b5.jpg

File photo: VCG

The fund mainly invested in sectors including resource exploitation, industrial park construction and urbanization in poor areas, according to Wang Weidong, general manager of the fund, adding that projects that could create more jobs for those regions were prioritized.

Meanwhile, to help companies tide over difficulties amid the ongoing coronavirus epidemic, the fund established a special anti-epidemic sub-fund worth 1 billion yuan, Wang said.

The investment fund has so far enlisted 109 shareholders with a total funding of 31.41 billion yuan since it was launched in October 2016.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue