Shanghai Jinfeng Committing to Blackstone

Property developer Shanghai Jinfeng Investment is planning to commit CNY300 million ($45.5 million) to the Blackstone Zhonghua Development Investment Fund of The Blackstone Group. Blackstone has a CNY5 billion ($758.7 million) target for the yuan-denominated fund, which will be used to invest in companies in China, particularly those located in the Yangtze River Delta.