From: Shanghai Securities News
Compiler: http://www.fundcn.org

City government spokesman said he has not been relevant information

Concern Shanghai Industrial Fund has new rumors. Yesterday, there were reports that the Shanghai government plans to introduce 20 billion industry fund, Expo to be held in Shanghai before the economy and infrastructure-related projects. And the Shanghai municipal government spokesman Yang Jiao said yesterday, he has not yet received the relevant information. Earlier on Shanghai plans to set up a fund or have multiple versions of the report, including the establishment of the Yangtze River Industry Fund and the Shanghai International Group on the basis of changes to industrial investment funds.

Reuters news agency yesterday reported that Shanghai Industrial Fund launched the plan has been the central government’s permission, The formal notice is expected to be issued next few weeks. The fund is mainly targeted at the Shanghai financial, insurance companies and large Chinese state-owned enterprises in Shanghai. Fund issued upon completion, will be outside the professional organizations to manage.

China’s first industrial investment fund — Bohai Industry Investment Fund at the end of last year formally established in Tianjin, Fund total 20 billion yuan, the first phase of raising the scale of 6.08 billion yuan. Following the successful fund-raising Bohai Fund, a new fund industry also are in the pipeline. In early June, the “China Daily” reported that the State Development and Reform Commission has recently approved the establishment of four private placement equity investment fund for energy, innovative and high-tech manufacturing industries to provide financial support. This four funds for the new Guangdong Nuclear Energy Fund, the Shanghai Finance Facility, Shanxi Coal Fund and the Fund for high-tech Mianyang, Sichuan Province. These four funds has been forwarded to the State Development and Reform Commission set up applications, the financing of each fund will reach 20 billion yuan, State Council is expected to issue the necessary final approval.

Indeed, for the establishment of the Shanghai Industrial Fund long-standing rumors. As early as last August, Some media reports Shanghai is preparing to launch the Yangtze industrial investment funds and plan has already been submitted to the State Development and Reform Commission for approval. At that time, industry analysis, the Yangtze industry fund selected projects may include the Expo project, Yangshan Deepwater Port Bonded Zone and the Pudong New Area of integrated pilot reform building. Then in September last year, the media have reported the Shanghai International Group will be converted to industrial investment funds.

It is not yet clear Shanghai fund industry specific mode of operation. But only a domestic industrial investment fund — Bohai fund model, Fund form of a contract to the strength of domestic financial enterprises, and investment institutions to raise funds, including the National Social Security Fund Council, the State Development Bank, the State Post Postal Savings, Tianjin-can invest in the company, the Bank of China Group Investment Ltd., China Life Insurance (Group) Corporation, China Life Insurance Company Limited. Bohai Industry Investment Fund Management Ltd. also act as the fund investors.

Copyright Fund China 2008.

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