China’s Ministry of Railways is to set up a private equity fund, according to a report in the China-based financial newspaper 21st Century Business Herald.
The fund could potentially raise up to CNY100bn ($15.7bn) from banks, insurance companies and the National Council for Social Security Fund, which manages the Chinese state’s social security assets.
A source for the paper also suggested that the state’s economic planner will aid the ministry in securing up to CNY150bn in loans.
The ministry…
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