WND to build two market-oriented financial funds

Wuxi New District Investment Group signs an agreement Dec 18 to cooperate with China Capital Management Co Ltd, Huaxi Group and Wuxi Qiku Network Technology Co Ltd to build a market-oriented financial fund. [Photo/wnd.gov.cn]

Wuxi New District Investment Group signed an agreement Dec 18 to cooperate with China Capital Management Co Ltd, Huaxi Group and Wuxi Qiku Network Technology Co Ltd to build a market-oriented financial fund.

With investment of 500 million yuan ($71.3 million), the fund, named Chun Lin, will be built by Wuxi New District Investment Group and China Capital Management. It will mainly invest in pre-IPO projects and help to encourage more quality enterprises and projects to settle in Wuxi National Hi-tech District.

The 1-billion-yuan Wuxi Shi Ji Tong Xin Investment Center will be launched by Wuxi New District Investment Group, Huaxi Group and Wuxi Qiku Network Technology. The investment center will mainly support the local companies involved in new industries in WND.

Wang Jinjian (right), Party secretary of WND, attends the signing ceremony. [Photo/wnd.gov.cn]

Wang Jinjian, Party secretary of WND, attended the signing ceremony and expressed his congratulations. He said the district's government is willing to cooperate with venture capital institutions.

Wang said he hoped both sides could put in more funds to deepen cooperation and make contributions to the development of technological innovation and a high-quality economy in WND in the future.

Wuxi New District Investment Group has established four market-oriented financial funds in WND, worth a total of 2 billion yuan.