Fund to rally SOEs to help poor areas
CHINA will create a fund to mobilize state-owned enterprises to help poverty-stricken areas develop industries, an official said yesterday.
The fund, with a initial funding of 10 billion yuan (US$1.5 billion), will reach 100 billion yuan by 2020, said Huang Chengwei, vice director of the International Poverty Reduction Center in China.
Regulated by the state-owned assets watchdog, the fund is designed to operate by “market rules” and encourage major SOEs to join it, he said.
The State-owned Assets Supervision and Administration Commission will launch the fund on Monday, China’s third poverty-relief day, and release more details about its structure and operation, according to Huang.
Developing local industry is a major front line in the battle against poverty, and China has supported poor regions’ efforts to develop local specialty industries based on their resources, such as the photovoltaic industry, tourism and e-commerce.
To fight poverty, central and provincial governments have arranged a record 66.7 billion yuan and 40 billion yuan of special funds respectively, said a statement.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.