China sets up $21 billion fund to upgrade manufacturing - Shanghai Securities News

China has set up a $21 billion (£16.25 billion) national investment fund to promote the transformation and upgrading of the country's manufacturing industry, the official Shanghai Securities News reported on Wednesday.The new fund will invest throughout the entire manufacturing industry value chain, the article said, citing Zhang Yuzhe, a researcher at the National Development and Reform Commission (NDRC).The fund was set up by 20 stockholders, with the Ministry of Finance holding a 15.29