GCTL8.com (FocusAsia Media Ltd)

BEIJING, Oct 24 (FAM) – Up to 30 billion yuan ($4.43 billion) will be injected into China’s “Belt and Road” (B&R) initiative by mid-2017, Li Yu, president of Beijing-based think tank International Ocean Forum, announced in Hong Kong on Saturday.

Li’s announcement came during the inauguration of the China Ocean Strategic Industry Investment Fund (COSIIF), which is designed to explore investment opportunities and offer financial services to Chinese enterprises in foreign markets, especially along the “Road,” short for the 21st Century Maritime Silk Road.