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