China’s new green development fund raises $12 billion in phase 1


BEIJING: China’s first dedicated environmental fund, which will invest in green projects and firms, has already raised 88 billion yuan ($12.59 billion) in its first phase, an environment ministry official said at a recent briefing. The National Green Development Fund will mainly be used to invest in national strategic programmes such as the green development of the Yangtze river region, said Zou Shoumin, a director responsible for finance at China’s Ministry of Ecology and Environment (MEE).