China sets up national aviation fund
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China has set up a CNY30 billion (US$4.4 billion) fund to invest in the aviation industry, the Shanghai Daily has reported. Based in Xi’an, Shaanxi province, the fund will primarily be used to invest in enterprises and projects in five national aviation bases - Xi’an, Harbin, Shenyang, Chengdu and Anshun. The fund will also help finance the country’s home-made passenger aircraft projects.
“The fund will attract private capital into China’s civil aviation industry to promote the integration of resources and enhance the country’s global competitiveness,” the fund’s Chairman, Jin Qiansheng, was reported saying.
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