The first batch of 23 financial institutions signed contracts with Shenzhen Qianhai Shenzhen-Hong Kong Fund Town Development Co. Ltd. on Thursday at Shenzhen-Hong Kong Wealth Management Forum of Qianhai, confirming their willingness to settle in the fund town, which uses Greenwich and Sand Hill Road as its examples.
These institutions, including Credit Suisse Group and Bank of East Asia, will move into the heart of Qianhai — an area that covers about 85,000 square meters of floor space and has 29 company villas, including one fund road-show hall, two investor clubs, a cluster of intermediate institutions, two high-end dining areas and one staff cafe.
Li Qiang, chairman of Qianhai Financial Holdings Co. Ltd., which is one of the two founders of the fund town, said that the top design includes venture capital funds, private equity funds, securities investment funds and hedge fund companies as well as fund sales, fund custody, clearing, accounting and law services agencies.
“We plan to create a comprehensive fund eco-system and provide a series of services to fund companies, including registration, put on record, alteration and clearing,” he said.
“Shenzhen city government will continue to support the development of the financial industry,” said Xiao Zhijia, inspector of the city’s financial services office. “The latest statistics show that Shenzhen has become a venture investment center in recent years and taking Qianhai as an example, its private equity companies will outnumber other places in the country.”
At the forum, a total of 11 third-party services enterprises signed a cooperative agreement with the fund town development company. A private equity information services platform was also launched.
According to the Qianhai authorities, by the end of 2016, over 50,000 financial enterprises have registered in the area. The business scale of Qianhai’s factoring and financial lease companies ranked first and third, respectively, in China. Qianhai has become the biggest national hub for financial and financial-related enterprises.
In recent years, various fund towns, such as Hangzhou Yuhuangshannan Fund Town, Jiaxing Nanhu Fund Town and Chengdu Tianfu Fund Town, have appeared in the country. But most of the fund towns rely on the registration-oriented economy (the offer of preferential tax deduction polices to enterprises), said some financial insiders.
Qianhai is unique because it has a solid financial industry foundation, and the fund town is being built according to demand, said Li.
In October, Qianhai Financial Holdings inked an MOU with Luxembourg Stock Exchange to create a channel for mainland institutions to go out. Later the fund town project was released. In December, Qianhai Financial Holdings singed a contract with Shenzhen Metro Group Co. to co-found the project. In July this year the general construction is expected to finish and in December it will open for its settlers.
粤公网安备 44030502003702号