Hunan Launches "Golden Lotus" Fund with 300 Billion Yuan Over 3 Years
Aiming to Build a Unified Fund Brand, Hunan Moves to Strengthen Industrial Investment.
- ChinaVenture | Yang Boyu
- September 5, 2024
- 3:20 pm
- No Comments
In a bold move to boost industrial investment, Hunan Province has announced the formation of a 300 billion yuan Golden Lotus fund group over the next three years. This initiative marks the second phase of Hunan’s industrial investment strategy, bringing together resources from across the province to create a unified investment brand.
The plan has two key focuses: the sources of the funds and how they will be allocated. The funds, estimated to reach 300 billion yuan, will come from three primary sources: government fiscal allocations of 240 billion yuan, contributions from state-owned enterprises amounting to 800 billion yuan, and investment from various cities, counties, and private capital.
This large-scale fund will be primarily directed toward five areas: industrial guidance, technological innovation, infrastructure, social development, and major projects. These funds will focus heavily on equity investment in industrial guidance and technological innovation, in line with Hunan’s “4X4” industrial development plan, which targets 16 key industries, including emerging sectors like artificial intelligence and quantum technology.
The province has also relaxed investment rules to encourage participation from market-driven entities. The goal is to strengthen Hunan’s industrial brand and drive technological advancement through coordinated efforts at all levels of government and industry.
