Futian gets ¥27B financial investment in H1

About 25 financial institutions of various types were established in Futian District in the first half of this year, bringing in a total investment of 27 billion yuan (US$3.72 billion), official statistics released yesterday showed.

With a registered capital of 1 billion yuan, Guosen Securities Asset Management Co. Ltd. inaugurated its headquarters in Futian CBD on April 23, becoming the second licensed asset management company to be headquartered in the district. The establishment of the company, which manages assets worth 150 billion yuan, boosted the total asset management scale of Futian to surpass 170 trillion yuan, contributing to Shenzhen’s endeavor to become an international hub for asset management.

The gratifying achievement is attributed to a range of favorable policies by the Futian District government to cultivate an optimal business environment for the growth of the financial industry. These policies, granting substantial subsidies of up to 100 million yuan to qualified financial institutions, have been revised to support the expansion of the IPO (initial public offering) market, hedge funds, and financial leasing.

Five other licensed financial entities have also set up their branches in Futian, alongside 17 private equity funds and one corporate venture capital (CVC). One notable entity is the Social Insurance Fund Jinwanqu Science Technology Innovation Equity Investment Limited Partnership. Jointly set up by the national social insurance fund and the Shenzhen city government, the LP was founded in February in the Hetao area, focusing on supporting specifically high-tech companies in strategic emerging industries in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). This special fund is the third LP of the National Social Insurance Fund after the other two setups in Beijing and Shanghai, respectively, to bolster the real economy and advance sci-tech innovation.

The CVC sector is another financial field that Futian has worked to form a strong ecosystem. The Albamen Capital, a subsidiary of international data conglomerate, recently partnered with Foxconn to create an investment platform exclusive for the new energy sector. This initiative marks the first 1-billion-yuan CVC project of the year to establish its presence in Futian’s CVC Innovation Center, first of its kind in the country launched last year.

The CVC Innovation Center will provide comprehensive support policies and regular services for the firms housed there. In addition to facilitating project roadshows and resource matching, the center will host industry events to guide CVC companies in investing in the real economy.