section_path: Economy/Cooperation funds
section_name: Cooperation funds
paragraph_text: Cooperation funds
  
  The establishment of the China-ASEAN Investment Cooperation Fund was announced in 2009 by Chinese Premier Wen Jiabao began operations in 2010. The fund, which is sponsored by the Export-Import Bank of China, among other institutional investors, became the first Southeast Asia-focused private equity fund approved by China's State Council and the National Development and Reform Commission. The Export-Import Bank of China is the "anchor sponsor" with a "seed investment" of US$300 million. Three other Chinese institutions invested a combined US$500 million. The International Finance Corporation of the World Bank invested US$100 million.
  
  In November 2011, the China-ASEAN Maritime Cooperation fund was established.: 160 China underwrote the fund, which is valued at RMB 3 billion.: 160