USD48 bn investment fund launched

China’s State Council has reportedly brought out an initiative to set up an RMB300 billion (USD48 billion) insurance investment fund to spearhead the country’s infrastructure development.

According to a report from Shanghai Securities Journal, the funds will be raised from the insurance sector and will primarily be invested in transportation and infrastructure including projects under the ‘One Belt and One Road’ initiative.

The State Council said that the rationale of the directive is to make use of long-term, stable capital to support the country’s public services development.