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New China fund to guide trade in services

China Daily | 2018-01-09

China last week launched itsfirst national fund to guide efforts to boost the service trade, based oninnovation and sustainable development, and to push economic transformation,the Ministry of Commerce announced on Monday.

The government-led fund aimsat facilitating the transformation of China's foreign trade patterns and cultivatingnew growth momentum for the economy. Launched last Friday, the total fund sizeis 30 billion yuan ($4.62 billion) and has completed the first phase offundraising.

The fund will focus on theareas listed in the Catalogue for Key Areas of Service Export and the Catalogfor Key Development Areas in Service Outsourcing, both issued by the governmentin 2016, as well as other major businesses in the service trade.

Author: Zhong Nan and Ren Xiaojin   Editor: 刘雪莹