Guiyang's industry guidance fund helps companies go public

Guiyang, capital of Southwest China's Guizhou province, established a fund to support industrial development in 2010. This year, the fund has helped three Guiyang-based enterprises successfully go public.

The fund is managed and operated by Guiyang Venture Capital Co, which invests government capital as equity to help private enterprises with industrial transformation, project construction, and going public.

The fund injected more than 10 million yuan ($1.54 million) into Guizhou Aviation Technical Development Co, one of China's main aero-engine forge piece manufacturers and providers. The company's share price increased by more than 200 percent compared with its issue price on the day of its IPO.

In addition, Yidu Cloud and Manbang Group, which also received investment from the fund, were listed in January and June, respectively. Yidu Cloud currently has a market value exceeding HK$35 billion ($4.5 billion), and Manbang Group's market value is more than $20.6 billion.

Guiyang Venture Capital Co will continue to invest the fund in industries such as big data and health care. During the 14th Five-Year Plan period (2021-2025), the fund's scale will exceed 8 billion yuan, supporting 15 to 20 enterprises per year and helping one to three go public.