(Yicai Global) April 5 -- The State Development & Investment Corp. plans to boost the link between funds and private equity investment to build urban corridors, big health, smart cities and other high-end emerging industries after the Chinese government unveiled development plans for the Xiongan New Area, per the SDIC's official WeChat account.
The company also said it will use its fund business' existing advantages to actively guide social capital investment in the construction of the new area.
SDIC has previously been involved in the establishment of the Venture Capital Fund of Transforming Scientific and Technological Achievements in the Beijing-Tianjin-Hebei Region.
SDIC is a reform pilot unit of state-owned capital investment groups, and manages one of the largest equity funds among central enterprises. It offers an unmatched number of fund categories, attracts the most social capital and oversees the lion's share of social security funds. SDIC is mainly engaged in industrial areas, and 30 percent of its business is financial.