Shengze Textile Industry Investing Fund Setup

China Eastern Silk Market Co., Ltd. recently signed an agreement with Suzhou International Development Group to jointly setup a textile industry investing fund. The original amount is 500 million yuan.

This fund aims at supporting the development of SME textile mills, especially those with strong innovation capability and quick growth power; providing financing service for companies in textile industry chain; supporting the construction of public information service, inspection and authentication service, idea and R&D platform; balancing the market prices and so on. The fund plans to extend to 3 billion yuan in three years and help Shengze become the textile R&D center, price center and financing decision-making center in China.