CHENGDU Dec.28 (NBD) -- Credit China FinTech Holdings Limited (Credit China) announced on Tuesday the establishment of "Asia FinTech FOF" of total amount 10 billion yuan (about 1.45 billion US dollars), together with China Huarong International Holdings Limited, Shanghai Xinhua Publishing Group and other enterprises. 

Sheng Jia, Executive Director of Credit China, said with expectation to create an incubation union with partners of the fund, calling on sponsors of Asia FinTech FOF to take advantage of their brand awareness and industry resource, and to integrate their experience in merger operation and stock investment with the target of the fund.