Guiyang Industrial Development Holding and the Guiyang Free Trade Zone, or Guiyang FTZ – located in Guiyang, capital of Southwest China's Guizhou province – signed an agreement on March 3 to set up a fund pool for Guiyang FTZ's industrial and trade development.
It is believed to be the first sub-pool of Guiyang's industrial development fund.
Under the agreement, the Guiyang FTZ and the group will combine to attract external financial resources, attract social investment, improve the utilization efficiency of State-owned capital and solve the financing problems faced by companies.
The new facility will have a total fund of 500 million yuan ($79.16 million) – to support electronics information manufacturing, advanced equipment manufacturing and the processing of imported grain and oil in the Guiyang FTZ.
It is expected to solve temporary capital turnover difficulties for companies in the Guiyang FTZ, maximize its financial benefits and promote industrial and trade development in the zone.
Moving forwards, the Guiyang FTZ will market the fund and offer guidance for resident companies to apply for financial support.