KUALA LUMPUR, Dec 17 (Bernama) – The World Dongguan Entrepreneurs Capital Summit held recently launched 1.5 billion yuan worth fund of funds (FOF) which the private sector took a larger stake. (100 yuan = RM60.63)
The summit focused on industrial investment and financing and exchanged views on co-opetition opportunities brought by the Guangdong-Hong Kong-Macao Greater Bay Area.
According to a statement, the investment will go to such fields as massive consumption, fin-tech and smart manufacturing.
“Dongguan used to take a quantity-oriented development path, covering a large land area and consuming huge cheap labor force,” said president of Dongguan Investment Group Co. Ltd., Yin Hongwei.
“The city is upgrading and bolstering development in a more quality-oriented way through continuous innovation and cutting-edge technologies,” Yin added.
More than 150 Dongguan-based firms joined forces to found Dongguan Investment Group in August last year, with an initial registered capital of 10 billion yuan. The move shows that the affluent private sector is aiming to expand its presence in the emerging industries.
Dongguan's mayor, Xiao Yafei encouraged Dongguan Investment Group to serve as a functional platform for private capital when it makes an inclusive plan for investing in the city's industries and pools capital from Dongguan entrepreneurs.
On top of offering financial support, the group will also help inject impetus into enterprises' endeavor to upgrade themselves by taking their management, sales channels broadening and industrial chain support to new heights for a win-win cooperation.
-- BERNAMA
No comments:
Post a Comment