State-asset watchdog unveils 51-billion-yuan fund to promote strategic, emerging industries

​Initiated by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) of the State Council, a fund with an initial value of 51 billion yuan ($7.18 billion) has been launched in Beijing to assist centrally administered state-owned enterprises (SOEs) to develop strategic emerging industries and is now ready for investment, state broadcaster CCTV reported.