China-Canada fund to tap natural resources
Updated: 2012-02-09 20:47
By Cai Xiao (chinadaily.com.cn)
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BEIJING - The Import-Export Bank of China and Canada-based Canaccord Financial Inc announced on Thursday to establish a $1 billion fund focusing on investing in Canadian natural resource sector.
“The ‘China-Canada Natural Resource Fund' demonstrates the importance of Canadian financial markets in the development of resource companies and the continued expansion of Chinese participation in natural resource projects around the world,” said Paul Reynolds, president and CEO of Canaccord Financial Inc.
The fund aimed at investing in both public and private natural resource and energy companies or projects in Canada, and in companies that are listed, or have the potential to list on Canadian stock exchanges.
Investors will primarily come from Chinese and foreign individuals, institutions as well as sovereign wealth funds.
The investment amount of a project will be between $1 million and $100 million and the investment period will be six to seven years.
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