Guiyang establishes capital pool, fund for industrial development

The Guiyang municipal government recently established a capital pool and fund for industrial development with a scale of 10 billion yuan ($1.58 billion), according to the Guiyang bureau of industry and information technology.

The fund will support key industries related to manufacturing, electronic information manufacturing, advanced equipment manufacturing, new energy vehicles, the phosphorus chemical industry, aluminum and aluminum processing, medicine, ecological specialty food, and software information technology services.

With a scale of 3 billion yuan, the capital pool will focus on solving the capital turnover problem encountered in the process of enterprise development by means of on-lending, entrusting loans and guarantees.

The fund, with a scale of 7 billion yuan, will support the promotion and construction of major projects through strategic direct investment and equity investment.

Since the establishment of the Guiyang Industrial Development Fund Pool on Dec 18, 2021, a total of 77 million yuan has been loaned to five companies.

The Guiyang Industrial Development Fund has been registered in Guanshanhu district in Guiyang, and preparatory work for the establishment of four sub-funds is in progress.

In 2022, the industrial development fund pool will release 2.5 billion yuan in funds, and the overall turnover rate of the fund pool is expected to reach 200 percent, providing financial support to more than 120 enterprises.

The fund will invest a total of 2.5 billion yuan, invest in more than four sub-funds, and reserve more than 12 strategic direct investment projects.