(Yicai Global) Nov. 10 -- General Electric Co. [NYSE:GE] and the Silk Road Fund, which is affiliated with the People's Bank of China, agree to establish an energy infrastructure investment platform to back new energy, oil and gas, and power projects in countries along the Belt and Road route.

The Silk Road Fund signed a cooperation agreement in Beijing with GE Energy Financial Services, a division of GE. The scheme will boost China-US cooperation in high-end manufacturing and promote trade between the two countries, the Silk Road Fund said.

Founded in 2014, the Silk Road Fund seeks investment opportunities as the Belt and Road Initiative advances and provided corresponding investment and financing services. The China Foreign Exchange Reserve Bank, China Development Bank and many other national financial institutions controlled by the People's Bank of China backed the fund, whose scale has reached USD40 billion.

GE signed commercial deals worth USD3.5 billion with three Chinese companies on Nov. 8 and yesterday during US President Donald Trump's visit to China.