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Fund to foster economic ties with ASEAN

By Jiang Xueqing In Hong Kong | China Daily | Updated: 2015-01-23 07:37

The China-ASEAN Investment Cooperation Fund, a private equity fund set up by the Chinese government, is looking to increase its investments in the Association of Southeast Asian Nations, especially in influential projects that offer good returns, a top official with the fund said on Tuesday.

"An influential project is one that is sustainable and creates more tax revenues and jobs. It should also have a positive impact on the local community and be well received by the local residents," said Li Yao, chief executive of the fund, at the Asian Financial Forum in HongKong.

"We have difficulty in finding good projects as the estimated investment returns rarely meet our expectations. In addition, the potential risks and transaction costs are high due to the lack of clarity in local government regulations and inefficiencies in the project approval procedures," Li said. The chief executive said that the entire transaction is often a lengthy and drawn-out process. "We want the governments to increase their efficiency and become more transparent," he said.

Fund to foster economic ties with ASEAN

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