Three sovereign wealth funds jointly launched a China-ASEAN Cooperation Fund with a total size of 1 billion US dollars.

China-ASEAN Cooperation Fund was jointly launched by China Investment Corporation, Indonesia Investment Authority, and the State Oil Fund of Azerbaijan. The fund has completed its first round of fundraising, raising approximately $520 million, with a target total size of $1 billion. Galaxy Overseas, a subsidiary of Galaxy Securities, serves as the fund's GP. The sovereign fund-led platform is expected to promote orderly capital flow and industrial synergy between China and ASEAN, focusing on industries such as industrial, medical health, consumer, and technology sectors, providing stable long-term capital injection. It supports Chinese companies expanding into the ASEAN market, especially high-quality enterprises interested in developing in Southeast Asia, and also helps ASEAN companies connect with Chinese technology, supply chains, and talent.