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On July 15, the unveiling ceremony of National Green Development Fund was held online. Song Xin, chairman of China Energy Conservation and Environmental Protection Group (CECEP), along with representatives from the Ministry of Finance, the Ministry of Ecology and Environment, and Shanghai Municipal People’s Government, attended the ceremony.
The National Green Development Fund is a national government investment fund jointly established by the Ministry of Finance, the Ministry of Ecology and Environment, and Shanghai Municipal People’s Government. The fund would be mainly invested in green development fields such as environmental protection, pollution prevention, ecological restoration, afforestation of national land, energy and resource conservation and utilization, green transportation, and clean energy. The fund adds up to 88.5 billion yuan (about US$12.6 billion), with contributions from the Ministry of Finance, 11 provinces and cities along the Yangtze River Economic Belt, several financial institutions and enterprises in related industries. CECEP participated in the capital contribution as a central enterprise.
