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Temasek Holdings Pte Ltd, Singapore’s sovereign wealth fund, is looking to build a food zone in northeastern China’s Jilin Province, in a bid to diversify Singapore’s food sources, Reuters reported.
The food zone will cover an area of 1,450 square kilometers and will be built in partnerships with Chinese regional authorities in agricultural and food processing, Temasek unit Singbridge said in a statement.
Fullerton Financial, another Temasek unit, said in a separate statement that it may establish village banks in Jilin.
In late April, media reported that Temasek and its newly founded investment arm, Seatown Holdings Pte, along with Chinese private equity firm Hopu Investment Management Co have subscribed for a combined US$235-million worth of new shares of China Yurun Food Group Ltd.