According to the Chinese media, a state-level mixed-reform fund with a total value of hundreds of billions of yuan is now under active preparation and is expected to be established in the first half of next year. The fund consists of one or two central SOEs and several other joint ownership investors. It is understood that the fund has formed a mixed ownership system at the level of LP. Pure private capital will participate in the project as investors. Mixed-ownership will be realized from the sources the restructuring of state-owned enterprises will be actively participated.