Jiangsu raises $14.7b fund for specialty town construction
2017-08-15 17:06:00

The second meeting to promote the construction of specialty towns in Jiangsu was held in Nanjing on Aug 14.

During the meeting, the Jiangsu Development and Reform Commission signed strategic cooperation agreements with the Jiangsu Branch of China Development Bank and the Jiangsu Guoxin Group to establish a fund with a total value of 100 billion yuan ($14.7 billion) for the construction of specialty towns in Jiangsu. In addition, five commercial banks also signed project financing contracts with 22 towns in Jiangsu, with a total value of 55.6 billion yuan ($8.18 billion).

As the construction of each characteristic town in Jiangsu requires an additional investment between 3 billion yuan ($441 million) and 5 billion yuan ($735 million), with the investment share for industrial projects not lower than 70 percent, there are very huge financing requirements. The fund establishment will provide a constant, stable and diversified capital supply for the construction of specialty towns in Jiangsu.

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Source:jschina.com.cn 江苏国际频道 Editor:Amanda