The Yangtze River Economic Belt
The Yangzte River Economic Belt Industrial Fund, valuing 200 billion yuan, will be launched by central China’s Hubei Province at the end of this month, according to the related press conference held on December 21, 2015.
The fund is based on a three-layer architecture: government guiding fund, fund of funds and sub-funds, among which, the government guiding fund will account for 40 billion yuan, Fund of Funds (FOFs) 200 billion yuan (including government guiding fund, financial capital and social capital), Sub-funds 400 billion yuan (including Fund of funds and other social capital). They are expected to drive a total social investment of 1,000 billion yuan flowing to real economy.
It was introduced that 68 organizations, including the banking institutions like CDB, ICBC, ABC, BC, CCB, BC, etc, as well as many enterprises listed among top 30 Forbes’ "Best PE" Institution, in only two weeks, had submitted their application for the position of co-founder of fund management company, with a total intention investment of over 800 billion yuan.
Featuring specialization, marketization and internationalization, the fund will focuse on the rapid development of seven emerging industries (ie, new-generation information technology, high-end equipment manufacturing, new materials, biomedicine, energy conversation and enviromental protection, new energy and new energy vehicles), promoting the transformation and upgrading of traditional pillar industries (automobile, iron & steel, petrochemical products, food, equipment manufacture, building materials, textile, etc.), supporting the breakthrough development of modern service industry (finance, Internet Plus, logistics, e-commerce, tourism, culture, health, pension, etc.), and giving aid to the green, technological and ecological agriculture and related industries.
It was announced that launching ceremony of the fund will be held on December 30. Meanwhile, summit forum and signing ceremony of the first batch of investment projects will also be commenced.
Related:
(hubei.gov.cn by Ruan Xinqi)
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