Baltic, China, Cooperation, EU – Baltic States, Financial Services, Funds, Good for Business, Markets and Companies, Tourism, Transport

Last Sunday, the state-owned Industrial and Commercial Bank of China (ICBC) officially launched Sino-CEEF Holding Company, which is intended as a new platform for business exchange between China and Central and Eastern European countries.

Sino-CEEF Holding Company will run the Chinese-CEE fund, which is expected to focus on developing infrastructure, high-tech manufacturing and mass consumption industries in the region, Xinhua quoted Sino-CEEF Holding Company head Jiang Jianqing as saying.

He indicated that a number of CEE countries, companies and financial organizations had shown interest in contributing to the fund and that the fund is expected to reach an estimated EUR 10 billion.

As reported, Latvia's development finance institution Altum and ICBC signed a protocol of understanding on the fund's creation during a Chinese-CEE business forum (16+1) in Riga last weekend.