PR94526

Establishment of RMB 60 Billion Industry Fund in Chengdu Hi-tech Industrial Development Zone Sincere Invitation of Professional Institutional Investors for Cooperation

CHENGDU, China, Feb. 14, 2022 /PRNewswire=KYODO JBN/ --

On February 8, the business environment improvement conference was held in

Chengdu Hi-tech Industrial Development Zone, clarifying that the industry fund

of RMB 60 billion will be established this year and that the industrial

development "partners" will be gathered in a wide range and professional

institutional investors are invited for capital cooperation.

Specifically, in 2022, Chengdu Hi-tech Industrial Development Zone will invest

RMB 18 billion at least, guide the participation by social capital, and set up

the industrial investment fund of RMB 60 billion at lowest, including 40%

invested to the electronic information industry, 20% to the bioengineering and

pharmaceutical industry, 20% to the new economic industry and 20% to other

industries, such as modern service industry and future industry, particularly

focusing on the hardcore technology and advanced manufacturing projects.

Among them, the Angel Mother Fund will be set up at the initial investment of

RMB 1.5 billion, and superior early-stage institutional investors and

entrepreneurship institutional investors are sincerely invited to set up the

Angel Sub-fund together, forming the angel investment fund group exceeding RMB

3 billion with the emphasis laid on aiding the excellent start-up technology

enterprises and supporting scientists and entrepreneurs to commercialize and

industrialize the scientific and technological innovation achievements.

In the next five years, Chengdu Hi-tech Industrial Development Zone will launch

the industry funds amounting to RMB 300 billion in total through government

funding and social capital leveraging, including the Angel Mother Fund worth

RMB 10 billion, so as to customize the full-life-circle investment and

financing service system from angel investment to seeking financing by listing

on the stock market for business growth.

In addition, concerning the talent training and development, Chengdu Hi-tech

Industrial Development Zone will also publish the special support policies for

leading talents and set up the special funds worth RMB 2 billion to vigorously

introduce the urgent leading talents for scientific and technological

innovation and industry innovation. Two types of talents will be granted with

RMB 20 million at most upon identification, i.e. talent subsidy of RMB 5

million/year maximally for 3 years, and relocation allowance of RMB 5 million

maximally or one expert apartment.  Besides, the leading talent teams of

scientific and technological innovation will be supported for project R&D and

achievement transformation in Chengdu Hi-tech Industrial Development Zone, and

they will be supported by the funds of RMB 100 million at most upon review.

As the first national self-dependent innovation demonstration zone and the

world-class pilot high-tech park in the western China, Chengdu Hi-tech

Industrial Development Zone stably retains its position in the first matrix

among 169 national high-tech zones concerning comprehensive strength, the

degree of enterprise assembly ranks No. 1 in the midwest, and the total number

of talents has broken through 700,000.

SOURCE  Chengdu Hi-tech Zone

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