China launches 1st aviation sector fund management enterprise
Published: 29 Jun 2009 22:24:36 PSTJun. 30, 2009 (China Knowledge) - A group of enterprises headed by Xi'an Yanliang National Aviation Hi-tech Industrial Base on Monday launched China's first national-level aviation industry fund management enterprise, the Xi'an National Aviation Industry Fund Investment Management Co Ltd, in Xi'an, the capital of Shaanxi Province, the People's Daily reported. The Xi'an National Aviation Industry Fund has a registered capital of RMB 300 million and will raise up to RMB 30 billion. It will enable private capital to enter China's civil aviation sector, whereas up until now, investment in the country's aviation sector has come only from the state. More than 60% of the fund will be used to invest in enterprises and projects in five national aviation bases in Xi'an, Harbin, Shenyang, Chengdu and Anshun. The new fund will also finance China's jumbo jet and regional jet projects. The capital market plays a significant role in promoting the development of global aviation, said Jin Qiansheng, chairman of the new company, adding that the fund will help promote the country's global competitiveness. Copyright © 2009 www.chinaknowledge.com |
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