On April 18, the first returned overseas Chinese investment fund was officially established and settled in the Binhai New District of Tianjin. The fund volume is designed to be RMB5 billion, and RMB 3 billion has been collected so far.

Backed by the All-China Federation of Returned Overseas Chinese, the returned overseas Chinese investment fund was initiated by Hong Kong Friedmann Assets Management Co., Ltd., with the involvement of other shareholders of overseas central banks, well-known domestic enterprises, and investment firms at home and abroad, based on the strength, relatives and business circle of overseas Chinese around the world.

It is introduced that upon the establishment of the Fund, its preparatory committee will continue to raise capital around the globe, aiming to collect RMB5 billion by September of this year. The fund is jointly managed by Friedmann Assets Management Co., Ltd. and Austria Central Cooperation Bank. Moreover, the fund will lay emphasis on projects favored by policies in Tianjin or those with competitive edges in the Binhai New District, as well as those global resource expansion projects of China.