The wealth management vehicle of a leading Chinese commercial bank has launched a new investment fund that will focus upon companies hoping to list on the Beijing Stock Exchange.
Yuan Zhihong (苑志宏), president of Huaxia Wealth Management Co., Ltd. (华夏理财有限责任公司) announced the launch of the “Beijing Shoufazhan Huaxia Longying Jieli Tech Investment Fund” (北京首发展华夏龙盈接力科技投资基金) on 27 September at the 2021 Zhongguancun Forum held in in Beijing.
The fund is reportedly the first of its type to specialise in companies that plan to list on the recently unveiled Beijing Stock Exchange, that will seek to cater to small, innovative enterprises that would have otherwise been confined to China’s over-the-counter New Third Board market.
“The fund will dedicate itself to servicing the development of Beijing as an international tech innovation centre, continuing the work of government guidance funds, helping to implement and commercialise scientific and technological research results, and supporting innovative small and medium-sized enterprises to develop,” said Huaxia Wealth.
Huaxia Bank and the Beijing Municipal Tech Commission will be responsible for overall planning for the new fund, while Huaxia Wealth Management and Beijing Capital Tech Development Group (首都科技发展集团) will be jointly responsible for its establishment.