A total of 27 fund projects -- including the Hubei Hongtai High-Quality Development Fund -- are set to be developed in Wuhan Economic & Technological Development Zone (WHDZ) in Wuhan, capital of Central China's Hubei province. It was announced at the 2020 Hubei Capital Conference for High-Quality Development on Sept 28.
The Hubei Hongtai High-Quality Development Fund, jointly established by Hongtai Aplus and WHDZ, has a total scale of 30 billion yuan ($4.40 billion) and a duration of eight years. The first phase scale is 10 billion yuan, and the intention is that it will complete the first phase of fundraising before the end of December 2020.
The fund will target the transformation and upgrading of traditional industries and the cultivation and growth of emerging industries, focusing on the four major industries: basic equipment manufacturing; new-generation information technology; new materials and new energy; and power equipment.
The fund will help develop a batch of high-quality reserve companies for listing.
