Chengdu High-Tech Zone to attract investment and talents with funds

The Chengdu High-Tech Zone in Southwest China's Sichuan province holds a convention on Nov 18 to attract investment and talent from around the world. [Photo provided to China Daily]

The Chengdu High-Tech Zone in Southwest China's Sichuan province will launch 300 billion yuan ($47 billion) in industrial funds over the next five years to attract investment and talent from around the world, said a local official.

The official made the remark at a convention held on Nov 18 in the Chengdu High-Tech Zone, which aims to attract investment and talent to the zone. Another 118 sub-venues were set up in domestic cities such as Beijing, Shanghai, Shenzhen and Hangzhou, as well as overseas cities in Europe, Japan, South Korea, and Singapore.

Officials of the Chengdu High-Tech Zone introduced its business environment to representatives of business associations, chambers of commerce, think tanks, scientific research institutes, investment institutions, embassies and consulates, and financial institutions from all over the world through online and offline platforms.

With social capital as "partners", the Chengdu High-Tech Zone will launch 300 billion yuan in industrial funds over the next five years to build a life-cycle investment and financing service system for local enterprises, from angel investment to listing.

At the convention, the Chengdu High-Tech Zone jointly established 11 industrial development funds with renowned financial institutions such as BOCOM Fintech and China Resources Capital, with nearly 40 billion yuan in total investment.

The Chengdu High-Tech Zone in Southwest China's Sichuan province is home to more than 100 Fortune Global 500 companies. [Photo provided to China Daily]

In the next five years, the Chengdu High-Tech Zone will launch a series of funds with a total of 100 billion yuan in investment to help talent and institutions pursue entrepreneurship and innovation. It will also establish industrial development funds with a total of 40 billion yuan in investment each year with its partners to help enterprises grow bigger and stronger.

"The industrial investment funds will link various market players and elements such as top talent, cutting-edge technology, leading enterprises and small and medium-sized enterprises that help strengthen and supplement the industrial chain to inject new impetus into the zone's industrial development and build a hub for scientific and technological innovation and industrial development," said local officials.

During the convention, 18 digital economy enterprises signed contracts with the Chengdu High-Tech Zone, involving online games, logistics supply chains, media and more. Ten investment institutions, including Dark Horse Technology Group Co Ltd, and NodeSpace, signed cooperation agreements with the Chengdu High-Tech Zone.

The Chengdu High-Tech Zone also announced the establishment of a professional industrial development committee, and hired 11 people as special experts for the committee to help further improve its industrial ecosystem.