(Yicai Global) Aug. 28 -- China's state-backed China Structural Reform Fund Co. has launched a new fund with initial capital of CNY5 billion (USD750 million) to support the acceleration of mixed-ownership reforms for state-owned enterprises.

China Structural Reform Fund, the Beijing branch of the Industrial and Commercial Bank of China [SHA:601398;HKG:1398] and Beijing Guofu Capital Co. set up the fund, and held a signing ceremony at the China Beijing Equity Exchange today.

Beijing Guofu Diversified Ownership Reform Investment Management Center will act as fund manager, with a focus on investments in central and local state-owned enterprises' ownership reforms, mergers and restructuring.