China securities network news (reporter liu zongen) the central enterprise poor area industry investment fund (referred to as the central enterprise poverty alleviation fund) and the poor area industry development fund at present the accumulative total investment decision project 119, has completed the investment to exceed 20 billion yuan, the investment project has covered all 14 concentrated contiguous poor area.

This is the China securities journal reporter October 10 from the state investment chuangyi obtained the latest data. Sdic chuanyi is a wholly owned subsidiary of China development investment group co., LTD. It is also the entrusted management institution of the above two state-level industrial poverty alleviation funds.

In 2014 and 2016, with the approval of the State Council, industrial development funds for poor areas and poverty alleviation funds for central enterprises were successively established. The industrial development fund for poor areas was set up with 2.8 billion yuan from the Ministry of Finance, China national tobacco corporation and the state investment corporation. The poverty alleviation fund for central enterprises was funded by 103 central enterprises and raised funds three times, reaching 31.405 billion yuan.

According to chuanyi, the industrial development fund for poor areas and the poverty alleviation fund for central enterprises have expanded the leverage of funds through direct investment, and led and mobilized nearly 200 billion yuan of social capital to participate in poverty alleviation. After the completion of all the projects invested by the two funds, they will create 480,000 jobs, provide 3.5 billion yuan of income for the employed population and 2.6 billion yuan of tax revenue for local governments. In the next step, the industrial poverty alleviation fund will increase the investment in the "three districts and three prefectures" and other areas in deep poverty to expand the effect of the industrial poverty alleviation fund.

Source: China securities journal