The state-owned corporates have set up an industry investment fund focused on China's Greater Bay Area as part of a larger $1.41bn initiative.

Two Chinese state-owned companies – diversified conglomerate Yuexiu Group and insurer People’s Insurance Company of China – are forming a RMB3bn ($424m) industry investment fund, DealStreetAsia reported today. The firms are collaborating on a series of fund partnerships targeted at China’s Greater Bay Area, which includes the cities of Guangzhou, Zhongshan and Shenzhen and special…

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