OREANDA-NEWS. December 06, 2011. The ABC Wuxi Equity Investment Fund, which was jointly launched by Agricultural Bank of China Limited (ABC) and Wuxi, was formally established. Mr. Pan Gongsheng, Executive Director & Vice President of ABC, and Mr. Mao Xiaoping, chairman of the Standing Committee of the Municipal Committee of Wuxi, attended and addressed the opening ceremony, reported the press-centre of ABC.

Mr. Xu Zhe, member of the Standing Committee of the Municipal Committee & the Managing Vice Mayor of Wuxi, Mr. Li Zhicheng, Head of ABC Jiangsu Branch, Mr. Jiang Feng, President of ABC International and other official leaders were also present at the ceremony.
ABC International (the Hong Kong-based investment bank of ABC) and Wuxi Guolian Development Group, as the operational platform of ABC and Wuxi, are responsible for the establishment of ABC Wuxi Equity Investment Fund. The total amount of the Fund is RMB15 billion, including RMB5 billion in Phase I. It is managed by ABC Guolian Investment Management Co., Ltd, founded by ABC International and Guolian Financial Investment Group.

Based itself in Wuxi, this Fund is rooted in the Yangtze River Delta while radiating all over the country. It focuses upon high-growth enterprises in pillar industries and strategic emerging industries as well as potential high-growth enterprises in the upgrading of consumption and industry. This Fund will participate into corporate M&As and restructurings, in order to promote industry upgrading and urban transformation of Wuxi and Jiangsu at large.

According to ABC International, Wuxi Equity Investment Fund boasts good contributors, abundant geographic location resources, professional management team and preferential supporting policies. Basing on leading regional economy and favorable credit environment of Wuxi, Jiangsu and even the Yangtze River Delta, and leveraging upon the extensive customer base and network edges of ABC, this Fund will provide investors with professional fund management service and all-directional financial support to enterprises under investment.
As the first privately offered RMB fund of ABC, this ABC Wuxi Equity Investment Fund serves quality enterprises and projects in Wuxi and nationwide.

Its establishment marks that ABC formally enters into the RMB private equity market, and is of great significance for ABC to strengthen comprehensive operating capacity and enhance core competitiveness.

At the establishment ceremony, many enterprises including Yurun Group, Rongsheng Heavy Industries and Hodo Group entered into relevant agreements on becoming a member of this Fund. This Fund also entered into agreements on fund investment intent with other relevant enterprises.