Topics

Posted 9/24/2023, 8:06:00 AM

China Reform Holdings Corp Raises $13.7B for Emerging Industries Fund Backed by SOEs and Governments

China Reform Holdings Corp plans to raise 100 billion yuan ($13.7 billion) for emerging industry fund
Fund has received investment interest from over 20 central SOEs, local governments, and private investors
Fund expected to start operating by end of 2022
China ramping up SOE investment in AI, new energy, materials, biotech per reform plans
China Reform Holdings set up in 2021 to deepen SOE reforms
Managed nearly 860 billion yuan assets end of 2022

reuters.com

Relevant topic timeline:

8/21/2023

China allocates another 500 mln yuan for relief in flood storage areas

### Summary China's finance and water resources ministries have allocated 500 million yuan ($68.68 million) to aid disaster-stricken residents in national flood storage areas in restoring normal production. ### Facts - 💰 China's finance and water resources ministries have allocated 500 million yuan ($68.68 million). - 🌊 The funds aim to assist disaster-stricken residents in national flood storage areas. - 🔄 The goal is to restore normal production as quickly as possible.

8/21/2023

Greyhound Capital, Headline Asia selected as venture fund managers - KED Global

Main topic: South Korean Ministry selects global fund management companies for 2023 Key points: 1. Seven global fund management companies were selected through document review and on-site evaluation. 2. The goal of the global fund is to raise over $970 million by investing $48.4 million from the fund of funds. 3. The Ministry aims to facilitate overseas investment and global expansion for domestic ventures and startups through global funds.

8/21/2023

China allocates another 500 mln yuan for relief in flood storage areas

China's finance ministry and water resources ministry have provided an additional 500 million yuan ($68.68 million) to aid flood-affected residents in restoring normal production in national flood storage areas.

8/30/2023

China’s Biggest Homebuilder Raises Capital in Scramble to Pay Debts

China's biggest homebuilder, Country Garden, plans to raise $34 million by issuing new shares in a bid to alleviate its $190 billion debt burden and address the country's expanding real estate crisis.

9/5/2023

Exclusive: China to launch new $40 bln state fund to boost chip industry, sources say

China is launching a new state-backed investment fund worth $40 billion to boost its semiconductor sector and catch up with the US and other rivals, with a focus on chip manufacturing equipment.

9/18/2023

Chinese AI and Tech Firms Pursue Hong Kong IPOs Despite US Restrictions

Three Chinese firms, including AI software company Beijing Fourth Paradigm, are aiming to raise up to $280 million in Hong Kong initial public offerings, with Fourth Paradigm seeking to raise up to $144 million by selling 18.4 million shares.

9/18/2023

China's R&D Spending Grows Over 10% in 2022 But Still Lags Targets for Basic Research

China's R&D expenditure increased by over 10% in 2022 to reach more than 3.08 trillion yuan ($421 billion), but concerns arise as the proportion of funding allocated to basic research remains low, hindering the nation's development goals.

10/11/2023

China Pushes State Firms to Focus on Self-Reliance as US Curbs Exports

China's state-owned firms, known as "national champions," have been urged to strengthen their presence and invest more in addressing economic and technological bottlenecks caused by restrictions imposed by the US, according to a report by the Chinese Academy of Social Sciences. The report emphasizes the key role of state-owned enterprises in safeguarding industrial and supply chains in the face of external containment and supporting the country's economic development. Despite criticism, state firms have seen their stake in the Chinese economy grow significantly over the past decade, with assets reaching 308.3 trillion yuan ($42.27 trillion) in 2021.

10/13/2023

China Mulls Market Stabilization Fund to Bolster Confidence Amid Stock Volatility

China is considering creating a state-backed stabilization fund to boost confidence in its equity markets, with potential access to hundreds of billions of yuan.

Topics

Posted 9/24/2023, 8:06:00 AM

China Reform Holdings Corp Raises $13.7B for Emerging Industries Fund Backed by SOEs and Governments

China Reform Holdings Corp plans to raise 100 billion yuan ($13.7 billion) for emerging industry fund
Fund has received investment interest from over 20 central SOEs, local governments, and private investors
Fund expected to start operating by end of 2022
China ramping up SOE investment in AI, new energy, materials, biotech per reform plans
China Reform Holdings set up in 2021 to deepen SOE reforms
Managed nearly 860 billion yuan assets end of 2022

reuters.com

Relevant topic timeline:

8/21/2023

China allocates another 500 mln yuan for relief in flood storage areas

8/21/2023

Greyhound Capital, Headline Asia selected as venture fund managers - KED Global

8/21/2023

China allocates another 500 mln yuan for relief in flood storage areas

8/30/2023

China’s Biggest Homebuilder Raises Capital in Scramble to Pay Debts

9/5/2023

Exclusive: China to launch new $40 bln state fund to boost chip industry, sources say

China is launching a new state-backed investment fund worth $40 billion to boost its semiconductor sector and catch up with the US and other rivals, with a focus on chip manufacturing equipment.

9/18/2023

Chinese AI and Tech Firms Pursue Hong Kong IPOs Despite US Restrictions

9/18/2023

China's R&D Spending Grows Over 10% in 2022 But Still Lags Targets for Basic Research

10/11/2023

China Pushes State Firms to Focus on Self-Reliance as US Curbs Exports

10/13/2023

China Mulls Market Stabilization Fund to Bolster Confidence Amid Stock Volatility

China is considering creating a state-backed stabilization fund to boost confidence in its equity markets, with potential access to hundreds of billions of yuan.