OREANDA-NEWS. July 19, 2011. A cooperation agreement was signed for ABC (Wuxi) Equity Investment Fund in Beijing. Mr. Zhou Mubing, Vice Chairman of China Banking Regulatory Committee, Mr. Mao Xiaoping, Secretary of CPC Wuxi Municipal Committee, Mr. Wang Guozhong, Vice Mayor of Wuxi, Mr. Xiang Junbo, Chairman of Agricultural Bank of China Limited (ABC), Mr. Zhang Yun, President of ABC, and Mr. Pan Gongsheng, Vice President of ABC, etc. attended the ceremony. Mr. Jiang Feng, CEO of ABC International Holdings Limited, and Mr. Wang Xilin, Chairman of the Board of Directors of Wuxi Guolian Development (Group) Co., Ltd., signed the agreement on behalf of the two sides respectively, reported the press-centre of ABC.

As operating platforms of ABC and Wuxi Municipal Government, ABC International Holdings Limited and Wuxi Guolian Development (Group) Co., Ltd. co-launched the ABC (Wuxi) Equity Investment Fund. The fund adopts limited partnership, with the total scale of RMB15 billion and the initial scale of RMB5 billion.

Based in Wuxi while available across the country, the fund aims to facilitate M&A and restructuring of various enterprises with leading-edge technology and high growth potential, especially strategic ones in emerging industries. The fund mainly invests in various enterprises with high growth potential or innovative business model in the Internet of things, energy saving and environmental protection, information, biological medicine, software and service outsourcing and other strategic emerging areas, and high-growth potential companies in the process of consumption and industrial upgrading. It intends to achieve capital appreciation and good return for the fund holders.

ABC (Wuxi) Equity Investment Fund combines the financial strengths of ABC and industrial advantages of Wuxi to provide strong financial support for quality enterprises and projects. It will effectively promote the development of emerging industries in Wuxi and in other parts of China.