The National Green Development Fund will be used to invest in key areas of green development along the Yangtze River Economic Belt.
China’s first dedicated environmental fund has raised CNY 88 billion (USD 12.6 billion) in its first phase.
The National Green Development Fund was launched on 15 July by the Ministry of Ecology and Environment, the Ministry of Finance and the Shanghai city government.
It will be used to invest primarily in green projects and firms, to support of the green transformation of China’s economy and strengthen the role of the market in fighting pollution, environment minister Huang Runqiu said at the fund’s launch ceremony.
The fund will focus on key areas of green development along the Yangtze River Economic Belt.
Additional reporting from China Daily, Reuters.