European companies, particularly those from France, can now tap into a 400 million euros fund to expand their footprints in China.

A tri-party fund was set up on Wednesday among China Investment Corp (CIC), BNP Paribas and Paris-based fund Eurazeo, with an initial capital pool of 400 million euros ($449 million), according to a statement on the website of CIC.

The pool will be enlarged with outside capital to 1.5 billion euros in the future.

European companies investing in advanced manufacturing, services, consumer goods, medical and health and digital technologies will be able to access the fund.

The France-China Cooperation Fund was set up in 2019.

Chen Yonglan, head of Eurazeo China, said every outstanding middle-sized European company has a China dream, noting that there is a huge market to help them access the Chinese market, according to a report by guancha.cn.

Source:Globaltimes.cn