CCCC Fund's First Insurance Fund Cooperation PPP Project is Initiated
30, CCCC Yiyang Infrastructural Construction Fund ("Yiyang Fund"), a
contractual fund jointly initiated by CCCC Fund and China Life-CCCC
Partnership, completed the first-tranche placement of the fund in the PPP
project of Zijiang Landscape Belt and Urban Loop Line Construction in Yiyang, Hunan
Province (Yiyang project). China Life-CCCC Partnership is an industrial
cooperation investment fund under limited partnership. With a total scale of
RMB 80,000 million, the fund will mainly be invested in the outstanding
projects recognized by CCCC and China Life. CCCC Fund's practice of introducing
insurance fund to a PPP project set a precedent for the investment of CCCC's
internal insurance fund in a PPP project.
Fund has duration of 22 years. The project will be implemented in the mode of
"PPP + government procurement". During the operation period of the
project, Yiyang Fund can exit in ways such as liquidation, equity transfer or
PPP project asset securitization strongly promoted by the country.