The Dream Factory of China

Source :Qianhai Communication Center

The Shenzhen Private Equity Investment Funds Association (SZPFA) was inaugurated in Qianhai yesterday morning.

The association has 133 member units that provide services such as securities investment, equity venture capital and alternative investment.

Tian Fu, a member of the Standing Committee of Shenzhen Municipal Committee of the CPC and the director of the Authority of China (Guangdong) Pilot Free Trade Zone Qianhai and Shekou Area, said at the ceremony that the establishment of the association marks a new chapter of the standardized management of the private equity industry.

“Qianhai is committed to creating a world-class business environment in which the wealth management industry will achieve quality development,” Tian said.

Shenzhen is an integral part of China’s capital market with a variety of domestic wealth management companies such as banks, insurance firms, securities and trust investments. As of July, Shenzhen had become home to 4,493 private equity agencies managing 1.9 trillion yuan (US$274.2 billion), ranking among the top three cities in the country. Qianhai has 243 licensed financial institutions, and its number of private equity institutions accounted for over 70 percent of Shenzhen’s total.

The spokesperson of the SZPFA said at the inauguration ceremony that the organization will help attract more quality wealth management companies to Qianhai and Shenzhen as part of the city’s bid to build a world-class wealth management center.

The first Qianhai Fortune Forum also kicked off at the ceremony. At the forum, representatives of domestic and overseas financial institutions, scholars and industry experts held an in-depth discussion on the development of the financial industry.

The forum will be held in Qianhai annually, to serve as an international platform for the exchange of ideas regarding the financial industry.