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Jiangsu Launches 39.6-Billion-Yuan Mother Funds Targeted at Eight Industries

www.jiangsu.gov.cn

2024-11-17


According to the management department of the Mother Funds for Strategic Emerging Industries of Jiangsu Province, as of November 7, among the first batch of 10 mother funds for targeted industries in prefecture-level cities under the management of the Mother Funds for Strategic Emerging Industries of Jiangsu Province, eight have completed registration at the Asset Management Association of China and entered their investment phase.


The eight mother funds, with a total scale of 39.6 billion yuan, consist of six billion yuan for software and information services and another six billion yuan for new power industries in Nanjing, six billion yuan for advanced equipment manufacturing and another six billion yuan for biopharmaceuticals in Suzhou, five billion yuan for integrated circuits and four billion yuan for biopharmaceuticals in Wuxi, five billion yuan for new energy in Changzhou, and 1.6 billion yuan for aerospace in Yangzhou.


So far, 7.334 billion yuan has been paid in, and it is planned that the remaining mother funds will have completed registration by the end of the year.


The mother funds for targeted industries in prefecture-level cities, featuring “parent-child fund + direct investment” model, support relevant prefecture-level cities in promoting the integrated development of strategic emerging industry clusters and improving the layout of local modernized industrial systems. In the fourth quarter, the mother funds for targeted industries in the prefecture-level cities have been picking up pace in selecting fund managers for their respective sub-funds and carrying out directly invested projects at hand, and guiding and encouraging more social capital to jointly participate in the sub-funds and invest projects, so as to build strategic emerging industry clusters with international competitiveness, making Jiangsu an incubator for new quality productive forces.


 
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