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Shanghai State-owned Capital Investment FOF Co., Ltd. was officially inaugurated today. According to the deployment of the Municipal Party Committee and the Municipal Government, the Shanghai State-owned Assets Fund of Funds is led by the Municipal State-owned Assets Supervision and Administration Commission, Shanghai State Investment Corporation, SAIC Motor, Shanghai Port Group and other municipal state-owned enterprises, as well as the Lingang New Area Management Committee, Hongkou District Government, Fengxian District Government, etc. It is jointly funded and established by the units, and the fund management company under Shanghai International Investment Corporation is responsible for fund management. The total target size of the fund is 50 billion yuan, and the first phase of the scale is 20 billion yuan. It will focus on serving the major national strategies and major tasks of Shanghai, accelerate the optimization of state-owned assets layout and the cultivation of strategic industries, and promote the high-quality development of state-owned enterprises. (Shangguan News)
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