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China sets up fund to restructure SOEs

CCTV.com

09-26-2016 16:31 BJT

China has established a private equity fund worth 350 billion yuan, or 52.5 billion US dollars, to help with the restructuring of state firms. That's according a report Monday from the official Xinhua News Agency.

The fund is called SOE Restructuring Fund, and will be managed by the Sasac, the state-asset watchdog. The fund will boost M&As within the SOE sector with supply-side reform duties.

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