英语小新闻

Four equity funds set to get the nod

TYNEWS 2007-06-08 08:18:31
SOURCE：China Daily
The establishment of four private equity funds has got the go-ahead from the country's top economic planner, according to highly-placed sources.

If, as expected, they are approved by the State Council, the funds will provide easier financial access to firms and small businesses in the energy, innovative manufacturing and high technology sectors.

The only private equity fund being operated now is the Bohai Industry Investment Fund.

According to one source, the four funds - Guangdong Nuclear Power and New Energy Fund, Shanghai Financial Fund, Shanxi Coal Fund, and Sichuan Mianyang High Technology Fund - had applied to the National Development and Reform Commission to raise 80 billion yuan ($10.3 billion), or 20 billion yuan ($2.57 billion) apiece.

Ma Jihua, deputy department head of the NDRC's Finance Departme