A Sino-Japan fund was established with a view to seeking opportunities brought by bilateral economic cooperation, First Eastern Investment Group (First Eastern) announced on March 18. First Eastern is a PE investment company with its standing partner being FE Japan China Partners Limited. Over the past two decades, First Eastern has established wide investment network across China, and participated in investment in over 100 projects, driving the consolidate investment amount above US$5B.

The fund will focus on opportunities in trade and investment between China and Japan. Synergetic effects will be produced through market increase, technology transfer and strategy alliance. The investment targets include services, tourism, raw materials, infrastructure, education and financial services sectors.

The fund size exceeds US$100M. Besides First Eastern, its initiators include Japan-based large-size financial institutions, like Nomura Securities, Bank of Tokyo-Mitsubishi UFJ, Mitsui Sumitomo Insurance Company Limited.