China sets up mega-fund to invest $2.9b in ultra-HD video sector

China sets up mega-fund to invest $2.9b in ultra-HD video sector

Photo by Frederik Lipfert on Unsplash

Three state-backed investment groups in southern China have joined forces in the launch of an RMB-denominated mega-fund to invest up to 20 billion yuan ($2.9 billion) in the country’s ultra-high-definition (UHD) video industry.