Pudong opts investment environment, industrial development

A view of Lujiazui area, the financial center in Shanghai. [Photo/IC]

Pudong New Area, Shanghai, aims to further optimize the layout of State-owned venture capital, and strengthen angel investment and industrial investment. The plan announced is set to directly influence the district's high-quality development focusing on the realms of scientific and technological industry, according to a roundtable conference held on July 13.

The conference was attended by government officials, representatives of State-owned enterprises, and investment institutions. They discussed methods to create an optimal investment climate for the venture capital industry, to attract more sci-tech innovation companies to Pudong, and to bring in an influx of professionals experienced in sci-tech innovation.

Three funds for industrial development were established under the Pudong Pioneer Area Industrial Development Foundation in the first half of this year. The first phase of the FOFs is valued at over 15 billion yuan ($2.09 billion) in total. They are expected to form a sub-funds cluster worth 100 billion yuan in three years.

During the conference, managers of the three FOFs briefed the attendees on the funds' operations and their respective requirements on the sub-funds' investment management.

Participants stated that they will leverage Pudong's advantages in industrial resources and financial services to provide comprehensive services for companies and help Pudong build competitive world-class industrial clusters.