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Hanhua Financial Holding Establishes 5-billion Innovation and Development Fund

Release Time:2017/3/24 3:25:53  Full Screen

On February 24, 2017, Small and Medium-Sized Enterprise Innovation and Development Fund of Shenyang was announced established. Zhao Zhongbin, deputy mayor of Shenyang City and Wang Dayong, vice board chairman of Hanhua Financial Holding, unveiled the fund in a joint effort. Guided by the government and multi-invested by social capital, Shenyang set up a fund of 5 billion yuan. Liaoning Hanhua Financial Holding Co., Ltd. was appointed manager of the fund, aiming at mainly investing in promising small and medium-sized enterprises of equipment manufacturing industry, accessory equipment industry, hi-tech industry, and key industrial cluster in Shenyang City.

It is said that the government-guided capital investment among this fund originated from Mass Entrepreneurship and Innovation Demonstration City fund appropriated by Ministry of Finance, and the rest came from social capital, with a total amount reaching 5 billion yuan. 

Zhao Zhongbin, deputy mayor of Shenyang City, indicated that a small and medium-sized enterprise innovation and development fund jointly invested with governmental and social capital, in advantage of the magnifying effect of governmental fund, was expected to become a new way supported by “government guidance, social investment and marketing management”. This new way would alleviate the problems of short and unaffordable funding for local small and medium-sized enterprises and “mass entrepreneurship and innovation” enterprises, boosting economy and contributing to economic and social development of Shenyang City. 

Wang Dayong, vice board chairman of Hanhua Financial Holding, expressed his confidence in Shenyang’s economic transformation. He would fully apply his nationwide comprehensive service platform to Shenyang, pioneering in inclusive financial service mode of “three platforms” consisting of “equity, credit and exchange”, providing local small and medium-sized enterprises with one-stop, full-cycle and ecological service, and sharing with small and medium-sized enterprises “common growth and development”. The fund is predicted to achieve a total business volume of 50 million yuan in Liaoning and to provide service for over ten thousand small and medium-sized enterprises in the following three years via government guidance, continuous investment from Hanhua Financial Holding and participation of social capital.