China sets up ₹1 lakh crore internet investment fund
China has set up a 100 billion yuan (approximately ₹1 lakh crore) fund to support investment in the internet sector. An initial 30 billion yuan (approximately ₹30,000 crore) has been raised from the Industrial and Commercial Bank of China (ICBC) and other banks and telecom companies. ICBC was the world's biggest public company in terms of assets in 2016.