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Shougang and Fengtai District Jointly Set Up a 10 Billion-Scale Development Fund

Release Time:2019-05-20 09:31:04

Recently, Shougang Fund  Company and the Fengtai District Government of Beijing reached an agreement to set up a 10 billion-scale development fund to help build the Capital Business Innovation Zone.

The fund is actually managed by Jingji Capital Company, a subsidiary of Shougang Concord . The target size of the fund is RMB 10 billion. The total investment is RMB 2.02 billion at this time. The contributions of Shougang Fund Company, Fengze Credit Company, and Jingji Capital Company are RMB 1 billion, RMB 1 billion and RMB 20 million respectively.

Shougang Concord is the flagship listed company of Shougang Group in Hong Kong. Its core business currently includes parking assets management and urban renewal business. Shougang Fund Company is one of the shareholders of Shougang Concord. Jingji Capital Company was formally established in 2015 to serve the “Beijing-Tianjin-Hebei integration” and the strategic transformation of Shougang Group. In 2017, in order to achieve the business transformation of Shougang Concord, it was merged into Shougang Concord through capital operations.

It is reported that after the establishment of the development fund, it will take the opportunity of balanced development between the north and the south of Beijing and a new round of action plans for the development of the southern region, fully integrate the planning and construction of the Nanzhong Axis and Nanyuan-Dahongmen areas, Lize Financial Business District , and Fengtai Park of Zhongguancun Technology Park , and promote functional optimization and resource integration. It will strive to build a central urban area of capital function expansion in the new era, a high-quality living and livable demonstration area of the capital, a green ecological garden city that highlights new development concepts, an internationally competitive smart manufacturing innovation zone, a new center of financial development with global influence, and a capital business innovation zone at the international level.

Shougang Fund Company and Shougang Concord will unite with the Fengtai District Government to give full play to their professional advantages in finance, park operations, industrial research, and project reserves, make use of the “funds + base + industry” model to develop, introduce and cultivate new formats and projects, and implement the vision of enterprise development and social value while realizing the return on investment.


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