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Zhongguancun to launch FOF for regional cooperation
By Wang Sujuan And Xu Lili ( chinadaily.com.cn )
Updated: 2015-03-23

Zhongguancun plans to establish a fund of funds (FOF), an investment strategy based on holding a portfolio of other investment funds, to promote the building of Beijing-Tianjin-Hebei region collaborative innovation community, the director of Zhongguancun Administrative Committee, Guo Hong, said at a press conference in Beijing on March 19.

The fund aims to attract social capital to contribute to the collaborative innovation of the region.

Zhongguancun will focus on some key cooperation areas, including Tianjin's Binhai and Hebei's Caofeidian. It will also speed up the construction of cooperative projects such as Binhai-Zhongguancun Science Park, Shijiazhuang Integrated Circuit Packaging and Testing Industry Base and Beijing-Tianjin Zhongguancun Science and Technology City, according to Guo.

"Zhongguancun will promote the coordinated development of Beijing-Tianjian-Hebei region through cooperation on industrial parks, investments and projects. We will extend technology finance, industrial investment and services to Tianjin and Hebei province. A new way for regional cooperation will be explored," said Yu Jun, chairman of Zhongguancun Development Group.

In 2014, Zhongguancun analyzed thousands of enterprises in Tianjian and Hebei, as an effort to promote the building of industrial parks and innovation community. At present, Zhongguancun enterprises have established more than 1,000 branches in Hebei and over 500 in Tianjin.