New 10bln fund from public-private group

Eight major state-owned enterprises (China Resources Power, Guodian of China Energy Investment Corp, State Power Investment Corporation, China Datang, China Huadian, China Three Gorges, China Huaneng, China General Nuclear Power) and one private enterprise (TCL) signed a contract to set up a 10 billion yuan fund. The aim of the fund is to prioritize investments in new energy equipment manufacturing industries, such as wind energy, solar energy, hydrogen and energy storage. The operative period is 10 years, among them the first five are the investment period, and after that five years of exit period.

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