Business / Economy

China launches fund to boost underdeveloped regions

(Xinhua) Updated: 2014-06-11 10:32

BEIJING - The Ministry of Finance announced on Tuesday that a fund of 2.8 billion yuan ($455.65 million) has been set up to boost economic development in the country's impoverished regions.

The fund was jointly set up by the ministry, the China National Tobacco Corporation and the State Development and Investment Corporation, the ministry said in a statement.

With corporate-style management, the fund aims to lure more companies and social capital to invest in under-developed regions, the statement said.

The fund will mainly invest in crop farming, livestock raising, tourism and fishery, according to the statement.

China launches fund to boost underdeveloped regions

China launches fund to boost underdeveloped regions

Top 10 countries with highest GDP in 2013  Top 10 regions with highest GDP in China 

 

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