The fund started by China-based financial group Haitong Securities and China-based media group Shanghai Media Group is targeting to raise RMB10bn ($1.6bn).
Two China-based corporates have set up the Shanghai Culture Industry Equity Investment Fund with RMB3bn ($480m), according to news provider First Financial Daily, securing commitments from other corporate investors. The fund is targeting to raise RMB10bn.
The fund was started by China-based financial group Haitong Securities and China-based media group Shanghai Media Group, First Financial Daily added.
It has also received helpfrom Shanghai XinHua Media and Shanghai Qiangsheng Group.
Other contributors to the fund include Xiamen C&D Corporation, Shanghai…
