The signing ceremony is held on Nov 23 for cooperation on the Changsha Airport Industry Investment Fund. [Photo/Xingsha APP]

The establishment of the Changsha Airport Industry Investment Fund was agreed on Nov 23, with an estimate of 1 billion yuan ($144 million) earmarked for air logistics and service, foreign trade processing, and innovative research.

The fund is a joint venture between Changsha Airport Industry Investment Group, Tianjin Airport Equity Investment Management Co Ltd, and Hunan Civil Aviation Investment Management Co Ltd. They signed the agreement at the Changsha Airport Economic Demonstration Zone.

Wang Guoliang, a member of the Standing Committee of the CPC Changsha County Committee and secretary of the Party Work Committee of the Changsha Huanghua Comprehensive Free Trade Zone, attended the signing ceremony.

Wang pointed out Changsha's strategic location and transportation advantages in his speech and expects an active role for the investment fund in the local development of airport-related economy.