| Introduction | The Qianhai FOF was established in accordance with the spirit of the "Approval of Policies to Support the Development and Opening-Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone" issued by the State Council, which endorses the establishment of a Qianhai equity investment mother fund. It is a large-scale commercial mother fund set up in response to the upcoming development boom in the domestic equity investment mother fund industry. The Qianhai FOF was successfully established in December 2015 and has currently raised a total of CNY 28.5 billion. The fund management company is registered with the State Administration for Industry and Commerce and is officially named "Qianhai Fangzhou Asset Management Co., Ltd." The successful establishment of the Qianhai FOF marks the completion of the fourth of the eight financial innovation tasks assigned by the State Council to Qianhai. It is of epoch-making significance in promoting the development of qualified investors in China's private equity investment industry, supporting the development of emerging industries, the transformation and upgrading of traditional industries, as well as mass entrepreneurship and innovation. |
