china-asean investment cooperation fund

The China-ASEAN Investment Cooperation Fund (CAF) is a US-dollar-denominated offshore equity fund approved by China's State Council and officially launched in 2010. Its establishment was first announced by then-Chinese Premier Wen Jiabao at the 12th China-ASEAN Summit. Sponsored primarily by the Export-Import Bank of China, CAF focuses on making direct equity investments to support Chinese enterprises investing in the ASEAN region. The fund primarily targets sectors such as infrastructure, energy, and natural resources, aiming to enhance economic cooperation and development between China and ASEAN member nations.