A unit of CITIC Group plans to raise RMB6 billion (US$874 million) for a number of educational industry investment funds to invest in education companies in China, according to a company announcement.
CITIC Securities Merger and Acquisition Industry Investment Funds Management Co., an investment subsidiary under China's largest financial services group CITIC, will be leading the effort.
The funds include a China STEM education industry investment fund. STEM refers to education in science, technology, engineering and mathematics. The STEM vehicle will introduce the so-called STEM courses to China, as well as boost the investment and acquisition of excellent Chinese STEM schools and advanced educational curriculum.
Two more funds, namely ...
This news article comes via , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network