Defense Firm Huaxun Fangzhou Moves HQ to Xiong'an, Plans USD153 Million Military Investment Fund
Zhang Xia
/SOURCE : Yicai
Defense Firm Huaxun Fangzhou Moves HQ to Xiong'an, Plans USD153 Million Military Investment Fund

(Yicai Global) Oct. 17 -- Shenzhen-based defense company Huaxun Fangzhou Co. [SHE:000687] and Xiong'an New Area Management Committee, located in China's northern Hebei province, will set up a CNY1-billion (USD 153-million) fund aimed at innovation in the military sector, the company said in a press briefing yesterday.

The defense firm has also moved its headquarters to Xiong'an and will set up facilities related to military communication, radar and electromagnetic technologies in an effort to accelerate the integration of the military-civilian industrial chain.

Xiongan New Area Management Committee will support the development of the local military innovation industry with preferential policies, while Huaxun Fangzhou will be responsible for the management of the fund and market-oriented operation.

The fund is expected to focus on the development of small- to medium-sized enterprises engaged in the upstream and downstream military industry.

Follow Yicai Global on
Keywords: Huaxun Fangzhou , Military Investment Fund , Xiong'An New Area