China’s State-Owned Firm SIIC To Set Up $7.28B Fund For Biomedical Investments

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Shanghai Industrial Investment Co., a Chinese state-owned conglomerate, plans to launch an RMB50 billion (US$7.28 billion) fund for equity investments in China’s biopharmaceutical sector, said Zhou Jun, CEO and chairman of the company at the ninth State-Owned Assets Summit in Shanghai yesterday.

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