The Hubei High-Quality Development Industry Investment Fund – a fund with an initial scale of 15 billion yuan ($2.32 billion) – was unveiled in Wuhan Economic & Technological Development Zone (WHDZ) in Wuhan, Central China's Hubei province, on June 28.
The fund, created by the National Manufacturing Transformation and Upgrade Fund and the Hubei Provincial Government, will primarily invest in four areas – new materials, next generation information technology, power equipment, basic and new manufacturing industries.
Beijing Hongtai Tongchuang Investment Management Co, National Manufacturing Transformation and Upgrade Fund Co, Hubei Provincial Communications Investment Group Co, Wuhan Science and Technology Investment Co, and Wuhan Economic Development Investment Co became partners of the newly-established investment fund, with agreements signed on the day.
A total of 12 intentional investment projects with investments exceeding 2 billion yuan were signed on-site, in areas such as new materials, intelligent driving, intelligent cockpits, chips, virtual reality, visual computing, data centers, remote sensing technology, satellite internet, precision instruments and other fields.
