An auto industry equity investment fund was officially launched in Wuhan Economic & Technological Development Zone in Wuhan, Central China's Hubei province, on Dec 2, according to local media reports.
The launch marked the first auto industry equity investment fund to be established through a combination of industry and finance by Dongfeng Motor Co and the Bank of Communications.
The initial registration scale of the fund reached 1.6 billion yuan ($245 million).
The fund will closely follow new trends in the development of the automotive industry and make forward-looking arrangements.
At the same time, the fund will adhere to the concepts of openness, cooperation, and cross-industry collaboration to help Dongfeng Motor Co and its industrial chain enterprises establish a new ecological chain and resource circle, accelerate the pace of iterative innovation, and share the results of industry reforms.
