A conference addressing industrial development took place in Hai'an, a county-level city in Nantong, Jiangsu province, on Jan 14.

Nearly 60 representatives from governments and enterprises gathered to discuss strategies for deepening industrial development through capital utilization.

During the event, Hai'an and Nantong Investment Management Co Ltd initiated a comprehensive strategic collaboration and jointly established the Nantong Zijing-Shanghu venture capital fund.

The fund has a scale of 100 million yuan ($13.9 million) and will concentrate on emerging industries such as intelligent manufacturing, robotics, electronic information and new materials in Hai'an.

Nantong Investment Management Co Ltd has been engaged in private equity investment since 2007, being the earliest within Nantong's State-owned assets system to delve into angel investment, venture capital, mergers and acquisitions, and parent fund operations.

As of now, the company has initiated the establishment of 38 funds and manages a total fund of 40 billion yuan. It has collaborated with 84 fund managers and established 15 fund management companies through partnerships with various institutions.

An unveiling ceremony for the Nantong Zijing-Shanghu venture capital fund is held during the conference. [Photo/Nantong Daily]