Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Chinese state-owned enterprises form USD 22 billion fund to invest in emerging strategic industries

Chinese state-owned enterprises form USD 22 billion fund to invest in emerging strategic industries

Chinese state media reported the formation of a 150 billion Yuan (~ USD 21.8 billion) investment fund by the China Aerospace Science and Technology Corporation (CASC), together with a group of centrally administered state-owned enterprises (SOEs) to invest in emerging strategic industries, under the guidance of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).

CASC is also an SOE and it is the main contractor for the Chinese space program. It has a number of subordinate entities which design, develop and manufacture a range of spacecraft, launch vehicles, strategic and tactical missile systems, and ground equipment. It will help implement the national innovation-driven development strategy and the integration of military and civilian development strategy. 

The fund, with an pledge of 113.9 billion Yuan for the first phase, will target industries such as 3D printing, aerospace, biological medicine, clean energy, high-speed rail, IT, nuclear energy, power grid, quantum communications, robotics, and shipping.

At the fund's establishment ceremony, CASC chairman Lei Fanpei said that the investment fund was established to improve the SOEs' innovative ability to make breakthroughs in core technology, boost emerging industries and foster new driving forces for growth, and increase cooperation among the SOEs.

The sponsors of the fund include rolling-stock maker CRRC, Industrial and Commercial Bank of China (ICBC), Postal Saving Bank of China, Shanghai Pudong Development Bank and Beijing municipal government. As a next step, the Beijing Municipal Government will support the structural reform of industries through resources and policies.

This follows an announcement in January this year of the launch of a 100 billion Yuan (~US$14.6 billion) Internet investment fund by the Chinese government. Overseen by the Cyberspace Administration of China and Ministry of Finance, tThe fund will support Internet companies and the Internet Plus Action Plan via equity investment. ICBC invested 10 billion Yuan (~US$ 1.5 billion) in the fund. According to the media release, 30 billion Yuan (~US$ 4.4 billion) has been raised from State-owned banks and enterprises.

In August 2016, China launched a 200 billion Yuan (US$30 billion) state-controlled venture capital fund, financed by China Construction Bank Corporation, China Reform Holdings Corporation Ltd. (CRHC), the Postal Savings Bank of China and Shenzhen Investment Holding Co., Ltd to support innovation and technology upgrading in centrally-administered state firms.

Featured image: Cory M. GrenierCC BY-SA 2.0


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit