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


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


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.


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.

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