CITIC Securities assists the Jing-Jin-Ji Fund in completing registration and the implementation of its first batch of investment projects

(Source: Economic Daily)

Reprinted from: Economic Daily

In order to implement the decisions and deployments of the Party Central Committee, support the development and growth of emerging industries and future industries, promote deep integration of technological innovation and industrial innovation, and foster high-quality development, China International Capital Corporation’s wholly-owned subsidiary, China International Capital Capital Operation Co., Ltd., serves as the manager. The National Venture Capital Guidance Fund, China Investment Corporation, and eight systemically important enterprises (CICC, New China Life Insurance, Zhonghui Life, China Re Group, China Construction Investment, Galaxy Financial Holdings, Galaxy Securities, Shenwan Hongyuan), as well as relevant entities from Bank of China and the Beijing-Tianjin-Hebei region (Beijing Municipal Government Guidance Fund, Yizhuang Guotou, Tianjin Haihe Venture Capital, Hebei Venture Capital Fund) jointly contribute funds to establish the Beijing-Tianjin-Hebei Venture Capital Guidance Fund Partnership (Limited Partnership) (referred to as the “Jingjinji Fund”) in Beijing. The Jingjinji Fund has a scale of 50 billion yuan, with the first batch of capital already paid in, and recently completed private fund registration with the Asset Management Association of China.

The Jingjinji Fund adheres to the principles of “early investment, small scale, long-term investment, and hard technology,” employing a “sub-fund + direct investment” approach to invest in seed-stage and early-stage companies. It aims to fully leverage policy effectiveness, support original and disruptive technological innovation, and tackle key core technologies, cultivating strategic emerging industries and future industries. To date, the Jingjinji Fund has signed agreements to invest in four sub-funds and one direct investment project, and has completed its first capital contribution.

The Jingjinji Fund will deeply implement the innovation-driven development strategy, organically integrate with the coordinated development strategy of Beijing, Tianjin, and Hebei, and build Beijing (Jingjinji) into an international science and technology innovation hub. It will promote efficient allocation of innovation resources and regional economic synergy. In the future, the Jingjinji Fund will leverage the resource advantages of various financial institutions to provide comprehensive financial services throughout the entire chain and lifecycle for innovation and entrepreneurial enterprises. Under the premise of complying with laws, regulations, and compliance requirements, the fund will utilize CICC’s professional synergy of “investment banking + investment + research” to fully play the important role of venture capital in supporting technological innovation, promote the transformation of major scientific and technological achievements into productive forces, and become an important force empowering high-level technological self-reliance and self-strengthening, as well as supporting the development of new productive forces.

(Data source: China International Capital Corporation)

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