China Communications Construction (SHA:601800, HKG:1800) subsidiary CCCC Dingxin will act as dual general partners with ICBC Capital to establish a 1-billion-yuan venture capital fund in Chongqing.
The fund will target artificial intelligence, building information modeling, cloud computing, 5G/6G, satellite internet, smart transportation, intelligent construction and low-altitude economy, according to a Friday filing with the Shanghai bourse.
The fund has an eight-year term, including a four-year investment period and a four-year exit period.
Shares of the infrastructure builder rose 3% in recent trade.
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