The 30-year development of SIP has proved that the fast-growing industrial park can provide infinite possibilities for the development of finance industry and, in return, the vibrant financial services have provided strong support for every stage of its development.
There are now 1,876 financial institutions of various kinds in SIP, mostly gathering in the 10-square-kilometer area around Jinji Lake, which is one of the areas with the most densely concentrated financial institutions in East China’s Jiangsu province.
The services of the financial institutions have fueled scientific and technological innovation in SIP.
In 2006, China-Singapore SIP Ventures Co Ltd, currently known as ORIZA Holdings, and China Development Bank jointly founded SIP Venture Capital Fund with a total size of RMB1 billion, which was the country’s first market-oriented fund of its kind and was amplified by investing in 16 sub-funds totaling RMB4.3 billion.
In 2010, the 60-billion-yuan CDB-SVG FOF was founded in SIP to invest in venture capital funds focused on early and growth stage investments.
Today, at Sandlake Fund Town, a cluster of fund management organizations in SIP, there are 331 teams with 735 funds under their management. There are over 1,000 privately offered funds in SIP, with registered capital totaling RMB410 billion.
Based on collaboration with the financial institutions, SIP has managed to carry out a variety of programs to bolster different kinds of businesses. The Listed Companies’ Nursery program, for example, is designed to give enterprises support in going public, and the “Towering Plan” is aimed at helping publicly listed companies improve their capital operation capability. From 2001, 66 companies in SIP have gone public at home and abroad.
The SIP e-Financing, an online financial service market which offers diverse financial products run by SIP authorities and financial institutions, was launched in 2020 to support financing of businesses.
At the same time, SIP has issued a series of policies to support the financial sector to strive for fast, innovative development, and enhanced supervision, institutional innovation and publicity to prevent financial risks.
For the future, SIP aims to find more paths to give full play to the role of financial services in driving industrial upgrading, sci-tech innovation and talent development.
November 27, 2024
