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Steel fund set up in Shanxi

2018-01-10

China's first steel fund to be jointly launched by private and State-owned enterprises was set up in North China's Shanxi Province on Tuesday, domestic news site chinanews.com reported.

With capital of 5 billion yuan ($767 million), the fund will be used to boost industry mergers and acquisitions as well as upgrading, said the report.

Source:Global Times