Technology investment group set to drive high-quality development
Top executives pose for a group photo at the inauguration of the Shanghai Jiading Technology Investment Group on September 30.
The Shanghai Jiading Technology Investment Group was founded on September 30. Built on Jiading State-Owned Assets Group, the investment group has developed a mature system and plans to integrate its fund products into a 10-billion-yuan (US$1.4 billion) investment matrix.
Lu Fangzhou, Party secretary of Jiading, said at the inauguration ceremony that the establishment of the group was essential for driving innovation in the tech industry, developing new-quality productive forces, advancing the industrialization of scientific and research findings and enhancing investment efficiency.
It was also essential for deepening the reform of state-owned capital and enterprises, and strengthening their core functions.
Fan Zhu, deputy Party secretary and general manager of the group, said it would focus on key industries such as integrated circuits and the “new four modernizations” in the auto sector (electrification, IoT, intellectualization and sharing), as well as future-oriented industries such as energy and materials.
The group is committed to advancing high-level industrial projects and supporting seed and early-stage hard technology initiatives.
Operating under an “FOF (Fund of Funds) plus direct investment” model, the group’s managed funds have exceeded 10 billion yuan, leveraging over 100 billion yuan in social capital.
In recent years, the “fund plus base” model has become a key approach for local governments to attract investment and drive industrial development. Jiading holds particular advantages for this model.
Jiading was designated as Shanghai’s science satellite town as early as 1958, and is home to 11 national-level research institutes. The spirit of sci-tech innovation has always been embedded in Jiading’s development.
The Jiading Technology Investment Group currently operates a national-level makerspace and a city-level tech business incubator. It is also building Jiabao Smart Bay, which will comprise three themed parks for chip design, intelligent connected vehicles and semi-conductor equipment and material industries.
