Bright Stone targets $4.8b for China tourism fund
China Bright Stone Investment has partnered with the Guizhou provincial government to launch the country's first tourism-focused fund, targeting up to RMB30 billion ($4.8 billion). The vehicle – Wuling Mountains travel industry investment fund - will mainly invest in Wuling Mountains tourism areas.
The fund, which is targeting a first close of RMB6 billion, is seeking commitments from state-owned banks, the National Council for Social Security Fund, insurers and listed companies, according to a statement....
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