WND launches high-tech financial valley

The WND Financial Valley and the Taihu Bay Sci-tech Innovation City Fund Building are launched on June 30. [Photo/WeChat account: xinwu_wx]

Wuxi National Hi-tech District had a launch ceremony for the WND Financial Valley and the Taihu Bay Sci-tech Innovation City Fund Building on June 30.

WND is now home to 119 funds, with a total scale of 61 billion yuan ($9.42 billion), providing a full range of support for more than 5,000 science and technology enterprises focused on innovation development in the district.

To date, the funds have helped 28 enterprises based in WND make their debuts on domestic and foreign capital markets, six of which are listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, and 70 of which are listed on China's National Equities Exchange and Quotations, also known as the "new third board."

The funds have also greatly support the financial ecosystem of the internet of things, integrated circuits, and biomedicine industries in WND, making the district a leader in the development of emerging industries in the city.

As the main body of the Taihu Bay Sci-tech Innovation City Fund Building, the 530 Building is now home to more than 30 funds and venture capital institutions of various types.

During the launch ceremony, agreements were signed with WND for 26 projects to provide more financial choices for enterprises.

Cui Rongguo, director of WND, said that the two new financial carriers will work to give more support to technological innovation, as well as small- and middle-sized enterprises, making WND's financial sector more opened-up and innovative.