The first characteristic town fund in Zhongshan is established. On the morning of November 24, the signing and inauguration ceremony of the “West District Characteristic Town Fund” was held in China Internet Application Innovation Demonstration Park. Zhongshan Financial Investment Holding Co Ltd (ZSFIH) and China Telecom company respectively signed cooperative agreements with China Internet Application Innovation Group (CIAIG) on the scene. 

ZSFIH’s President Shao Nianrong said that the “West District Characteristic Town Fund” was jointly founded by ZSFIH and West District Office. ZSFIH, as the fund manager, will participate in the construction of West District’s “Internet Plus Application Innovation” characteristic town by resorting capital from governments, state-owned assets, banking institutions and society with innovative financial methods.

The China Internet Application Innovation Demonstration Park is the national park co-developed by China Center for Promotion of SME Development of MIIT and West District Office. It is expected to raise 100 million yuan for the fund for the first stage. The fund will be invested on the development of the park and the projects of the characteristic town, hoping to help enterprises enter strategic emerging markets and go public and to provide services for mergers and acquisitions. 

On the same day, China Telecom comapny also singed a strategic cooperative agreement with CIAIG. Both sides will jointly develop a cloud service platform for SMEs basing on network communication technology, data mining and analysis and internet.