On December 21, Guangzhou District-level Governmental Investment Funds Agreement Signing and Plate Granting Ceremony cum Funds Development and Sci-tech Innovation Meeting was held during Guangzhou Convention of Overseas Chinese Scholars in Science and Technology. At the meeting, Guangzhou Finance Holdings (GFH) signed strategic cooperation framework agreements with district governments for establishing investment funds. Ouyang Weimin, member of the standing committee of CPC Guangzhou Committee and vice mayor of Guangzhou, granted plates for the investment funds established by district governments.

 

In order to boost industrial transformation and upgrading, expand governmental financial funds’ guiding effect and activate social capital, Guangzhou municipal government had decided to establish investment funds in districts, strengthen financial talents cultivation and management institution construction by means of the opportunity of establishing investment funds and offer powerful fund support to the city’s economic and social development through developing a powerful financial industry.   

 

The newly-established district-level investment funds management companies are mainly in charge of the management and operation of the districts’ guiding funds, industry direct investment funds and PPP funds as important investment and financing platforms of the districts. They will play an important role in boosting governmental investment and financing reform, driving the innovative development of strategic and emerging industries of the districts, supporting innovation and startups, and attracting social capital to attend urban infrastructural construction.

 

In addition, in order to support the growth of the management companies for the district-level governmental investment funds, Guangzhou Municipal Government will inject 1.1 billion yuan to the district-level funds management companies via GFH. Guangzhou will give full play of GFH’s advantages in financing and investment to support its districts in building financing and investment platforms and cultivating financial talents.

 

Source: Translated from Invest Guangzhou, Dec. 22, 2015