China's Top Investment Firms Form Alliance to Support Business
27 Jun 2019
On the afternoon of Wednesday, June 26th, 2019, in a conference hall facing the sea in Zhaoshang Sub-District, of Shenzhen, the top domestic venture capital and investment firms gathered to launch China's first district level venture capital alliance.
The Zhaoshang Venture Capital Alliance kicked off with a formal gathering of the top funds in the industry, financial institutions, business incubators, industry associations, agricultural city stock companies, industrial parks and other resources, and small and medium-sized enterprises based in Zhaoshang.
"Do everything possible to solve problems for the enterprises in the jurisdiction and help them grow and develop in the jurisdiction."
The purpose of the alliance is to provide diversified services, help enterprises take advantage of the major opportunities for future technological and industrial development, and provide a strong driving force for the sustained and rapid development of Nanshan's economy.
The event was opened by speeches from Chen Jun, Chairman of the Nanshan District Political Consultative Conference, former deputy mayor of Shenzhen, Tang Jie, professor of Harbin Institute of Economics and Management, and Liu Li, Secretary of the Party Committee of Zhaoshang Sub-District. One memorable line was from Liu Li, who told the attendees to "Do everything possible to solve problems for the enterprises in the jurisdiction and help them grow and develop in the jurisdiction."
In 2018, there were 645 enterprises generating a GDP of 35.36 billion yuan, ranking second in Nanshan District. This year, the Party Committee of Zhaoshang plans to streamline a model of providing services to enterprises, has introduced five major reform measures for service enterprises, and announced the “red accelerator” function of Zhaoshang to further integrate the resources of the jurisdiction and combine forces to establish the “Zhaoshang Venture Capital Alliance”.
Zhaoshang Sub-District makes up about 95% of the Shekou Qianhai Free Trade Zone and includes areas such as Sea World and the Shekou Port.
The purpose of the Alliance is to comprehensively improve the service level of enterprises in the jurisdiction, and create a first-class business environment in line with the "internationalization + free trade zone" philosophy.
The Alliance will build the “one core and five chains” system to speed up the development of enterprises. This will consist of a space chain, a service chain, an ecological chain, a talent chain and a legal chain with finance at its core.
Specifically, it will coordinate fund companies, financial institutions, business incubators, industry associations and other resources to provide financial support, policy consultation, entrepreneurship training, venue support, project promotion, creative and innovation services, and solve start-up, investment and financing challenges.
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