China: FTZ equity investment fund takes shape

It is the first fund in the country which focuses on investment in the China (Shanghai) Pilot Free Trade Zone (FTZ), eastday.com reports. The fund will raise a total of USD 817 million (CNY 5 billion) and is initiated by the Shanghai Lujiazui Finance and Trade Zone Development, Shanghai Waigaoqiao (Group), China Cinda Asset Management and China Orient Asset Management Corporation state owned-enterprises.

Yang Xiaoming, chairman of Shanghai Lujiazui Finance and Trade Zone Development, has claimed that the fund will mainly concentrate on investment in modern logistics and warehousing, commercial real estate, cross-border ecommerce, imported goods direct sales center and cultural product trading platform within the free trade zone (FTZ). The fund, with a mixed ownership, will promote the financial capital to cater for the real economy, service industry and urban infrastructure.