China Railway Corporation has signed investor agreements and articles of association with China Industrial and Commercial Bank, China Agricultural Bank, China Construction Bank and Industrial Bank Investment Platform. This marks the official establishment of the Railway Development Fund, which will further attract social capital investment. The railway development fund takes the form of company fund. China Railway Development Fund Co., Ltd. was established by China Railway Corporation as the main sponsor of the fund and attracting social investors as preferred shareholders. After the establishment of China Railway Development Fund Co., Ltd., it will be the main body of railway market-oriented investment and financing. Railway development fund is an important attempt to promote PPP model in the field of infrastructure construction in China.