(Yicai Global) Oct. 14 -- A Fund Town is planned for Qianhai, the special economic area next to Shenzhen, known as the hotspot of innovation and business ventures in China, to provide venture capital for innovative startups.
Qianhai Financial Holdings Co., Ltd. and Shenzhen Metro Group Co., Ltd. signed an official strategic cooperation agreement on the joint development of the town which will have 29 major buildings capable of housing 100 investment enterprises. It will be ready to take in tenant companies by the end of next year, the companies said.
"The Fund Town in Qianhai conforms to the market development trend", said Mr. Li Qiang, chairman of Qianhai Financial Holdings, during an exclusive interview with Yicai Global. "We wouldn't do it if Qianhai didn't have a strong foundation for fund businesses."
"Both Shenzhen and Qianhai will roll out favorable rent policies for the Fund Town and form a strategic alliance with similar towns in other places. The regions will also partner up with local innovation and venture capital centers," added Mr. Li.
Furthermore, Qianhai Financial Holdings who own the land it will build the town buildings on will hold meetings for venture capitalists, private investors and representatives of hedge and equity investment funds.