Silk Road fund starts op­er­a­tions

China Daily (Canada) - - FRONT PAGE -

A Silk Road Fund de­signed to fi­nance China-pro­posed “Belt and Road” ini­tia­tives has be­gun op­er­a­tion, the cen­tral bank said.

The Silk Road Fund Co Ltd was es­tab­lished on Dec 29, 2014, in Bei­jing, af­ter Pres­i­dent Xi Jin­ping an­nounced the cre­ation of the $40-bil­lion fund in Novem­ber, ac­cord­ing to the Peo­ple’s Bank of China.

The com­pany was jointly funded by China’s for­eign ex­change re­serves, China In­vest­ment Cor­po­ra­tion, the Ex­port-Im­port Bank of China and China Devel­op­ment Bank.

“The pri­or­ity (of the com­pany) is to seek in­vest­ment op­por­tu­ni­ties and pro­vide in­vest­ment and fi­nanc­ing ser­vices dur­ing the progress of the Belt and Road Ini­tia­tives,” a cen­tral bank state­ment said.

WANG YU / CHINA DAILY

The Lu­nar New Year cel­e­bra­tion in New York City started Tues­day with the first ma­jor fire­works show in the city’s his­tory to cel­e­brate the event. The 20 min­utes of fire­works shot from three barges in the Hud­son River was put on by Grucci, the New York-based com­pany that pro­duced the 2008 Bei­jing Olympics fire­works show.

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