The Guangzhou Industrial Investment Fund Management and some local companies have set up a $1.52 billion fund to finance the development of the Chinese city’s urban rail network, according to China Daily.
The new fund will invest in rail transport projects, helping integrate resources related to the urban rail transport industry and pave the way for a sustainable development of the industry. It will invest in at least 100 key projects in the upstream and downstream sector of the rail transport industry.
The fund will help develop more than 10 listed rail transport companies.
