Chinese All Digital Publishing to Set up PPP Fund in Partnership for Smart City Building in Qingdao
Dou Shicong
DATE:  Nov 02 2017
/ SOURCE:  Yicai
Chinese All Digital Publishing to Set up PPP Fund in Partnership for Smart City Building in Qingdao Chinese All Digital Publishing to Set up PPP Fund in Partnership for Smart City Building in Qingdao

(Yicai Global) Nov. 2 -- Chinese All Digital Publishing Group [SHE:300364], a Beijing-based media company, will partner with several companies to set up a 'Public-Private-Partnership' (PPP) fund in Qingdao, East China's Shandong province, to accelerate the building of a smart city.

The company will set up the CNY10 billion (USD1.51 billion) fund with a maturity of 10 years together with China Railway Construction Corporation Limited [SHA:601186] and Bank of Qingdao [HK:3866] as well as several hi-tech firms and fund management companies, said a statement issued by the company today.

Once the fund is established, each company will participate in Qingdao's government-enterprise cooperation projects by setting up sub-funds. The fund will raise proceeds in phases and can only do so by establishing a PPP project.

The new fund will boost the city's smart city building and help implement its "culture plus" strategy to enhance its core competiveness in the public culture service sector.

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Keywords:   MSCI,PPP,Smart City,China Railway Construction Corporation,Bank of Qingdao