Date
20 September 2017

Industry group plans 50 bln yuan smart city fund, paper says

China Smart City Industry Alliance (CSCIA) plans to raise 50 billion yuan (US$8.06 billion) from its private equity, venture capital and investment firm partners for a new fund, aiming to encourage participation of private entities in commercialization of “smart city” related technologies, Shanghai Securities Journal reported Thursday, citing business insiders. The fund will mainly be involved in equity investments in intelligent transportation and internet-of-things (IOT) projects, it said. CSCIA’s initiatives have been imitated by several other industry alliances under the Ministry of Industry and Information Technology (MIIT), the report noted.

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MY/AC/RC

 

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