The 10-billion-yuan Zhongshan Cuiheng City Development Fund was initiated by Zhongshan Xiwan Investment Holdings Development Co Ltd to provide financial support for Cuiheng New District to carry out industrial park renovation and accelerate high-quality urban development.
The fund will leverage other funds to form a special capital pool of 50 billion yuan to promote the upgrading and renovation of village and town-based industrial parks, the construction of Xiwan Pharmaceutical and Health Industrial Park, and the cooperative development of transferred land.
Early in 2020, Cuiheng New District has set up the Cuiheng FoF, which has invested 974 million yuan to set up 8 sub-funds with a total scale of 13.28 billion yuan. With the funds, Cuiheng New District has attracted a number of outstanding projects, such as WYZE Biology, Huazi Biopharm and Zhiben Pharmaceuticals.
Cuiheng New District is also planning to set up a sci-tech achievement transformation fund, hoping to attract high-growth and quality projects from Shenzhen.
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