17 May 2017
State-owned China Aerospace Science and Technology Corporation (CASC) has teamed up with other government-owned companies for a 150 billion yuan ($21.78 billion) fund to invest in new technologies, the official Xinhua news agency said on 16 May. CASC is responsible for the development and launch of rockets, satellites, manned spacecraft and space stations as well as strategic missiles and other weapons. The innovation-focused fund will target an array of high-tech sectors, including aerospace, nuclear energy, shipping, high-speed rail, quantum communications, 3-D printing and robotics, CASTC General Manager Wu Yansheng said at the launch ceremony.
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