Hunan Xiangjiang New Area Allocates CNY 20 Billion Funds to Bolster High-quality Industrial Development

The real economy thrives on finance. To gather more financial elements in the new area to serve it and encourage investment into the field of innovation and entrepreneurship, Hunan Xiangjiang New Area has announced a CNY 20 billion investment over the next five years to be allocated towards talent support, technology innovation, industrial guidance, investment and M&A for listed enterprises, and major projects, forming a fund ecosystem for the whole life cycle of enterprises.

The industrial guidance fund launched this time will reach a scale of CNY five billion, with the aim of fully covering the main competitive industrial chains in the new area, expanding the competitive industries, and cultivating and developing emerging industries in Hunan Xiangjiang New Area. Meanwhile, it will fully leverage the investment promotion ability of the industrial chains, and cultivate more industrial clusters worth CNY 100 billion and CNY 50 billion.

Major projects serve as the driving force behind industrial development. To this end, Hunan Xiangjiang New Area has allocated a special fund of CNY five billion for major projects, mainly through direct investment. It focuses on utilizing the investment attraction impact of capital, finding the optimal convergence point of the government's industrial layout and the market investment direction, and encouraging the settlement of investment promotion projects.

The combination of industrial guidance funds and special funds for major projects serves as a financial measure aimed at advancing the development of industrial clusters in the new area. Meanwhile, it will expedite the establishment of a modern industrial system while prioritizing the development of 15 crucial industrial chains. By fully leveraging the role of capital investment promotion and attracting investment through existing investments, it looks to introduce high-quality enterprises into the new area continuously.