WND to establish special funds for science and technology industries

Wuxi National Hi-tech District (WND) signed agreements with two investment enterprises on June 12 to establish special investment funds for pioneering science and technology industries.

The two investment enterprises -- US-based Crede Capital Group and Beijing-based Zhong Qi Hui Lian Investment Management Co -- are expected to carry out more quality projects and attract enterprises to invest and set up operations in WND.

WND, which was established over 20 years ago, has formed various key industrial clusters focusing on biomedicine, integrated circuits, internet of things and cloud computing, high-end equipment manufacturing, software, and information technology. It is also developing emerging industries such as 5G and new materials, according to WND Party Secretary Jiang Min.

Jiang said that the government will give full support to the two investment enterprises and provide quality government services to enterprises who set up operations in the area.

Crede Capital Group manages investable funds of more than $8.5 billion and has invested in more than 75 listed companies. It focuses on developing new industry companies working on life sciences and healthcare, energy, natural resources, consumer products, media and internet technology. Zhong Qi Hui Lian Investment Management Co is the only designated GP fund management company in China of Crede Capital Group.