CITIC Assets will work with local state-owned enterprises to create a bailout fund for central-regional cooperation, covering emerging industries such as blockchain

Li Mei, Secretary of the Party Committee and Chairman of China Galaxy Financial Holdings, stated that its construction investment company, CITIC Asset Management, decided to work with local state-owned enterprises to create a bail-out fund for central-regional cooperation. The technology innovation enterprise was the entry point and represented the economic transformation and industry. The science and technology enterprises in the upgrading direction have solved their urgent needs and provided diversified financial support for their development. The fund mainly selects science and technology companies in Haidian District, Beijing and other regions that have core technological advantages and technological innovation capabilities and face temporary operating difficulties to rescue them. In terms of industry coverage, it mainly includes strategic emerging industries such as 5G, cloud computing, blockchain, high-end equipment manufacturing, biomedicine, new materials, new energy, energy conservation and environmental protection, as well as the depth of finance and technology, culture and technology, consumption and technology Converged New Industries.