China sets up special fund worth 30 bln yuan to revitalize SOEs' land assets

BEIJING, July 5 (Xinhua) -- China held a founding ceremony on Friday marking the official establishment of a special fund to revitalize the land assets of state-owned enterprises (SOEs).

Approved by the State-owned Assets Supervision and Administration Commission of the State Council, the fund is worth 30 billion yuan (about 4.2 billion U.S. dollars).