East China’s Jiangsu province has launched a 100-billion-yuan development fund to boost the growth of specialty towns across the province. The fund is made possible through the partnership between the provincial development and reform commission, the provincial branch of the China Development Bank and Jiangsu Guoxin Group. In the meantime, five commercial banks have signed 55.6 billion yuan worth of financing projects with 22 specialty towns. The launch of the fund is meant to give a strong impetus to the growth of special towns to ensure their sustainable growth through transformation and upgrading.
