China Launches 10 Billion Euro Fund to Boost Investment in Central, Eastern Europe

(Riga, Latvia) — China has set up a 10 billion euro ($11.1 billion) investment fund to finance projects in Central and Eastern Europe, the latest in a series of moves under Beijing's "One Belt One Road" initiative to help Chinese firms scouting for investment opportunities abroad amid an economic slowdown at home.

The China-Central Eastern European fund will raise another 50 billion euros to finance joint ventures, Premier Li Keqiang said at an annual meeting with 16 regional heads of state in the Latvian capital, Riga.