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Ordos launches new quality productive forces fund

Updated: Apr 3, 2024 Print
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The city of Ordos in Inner Mongolia autonomous region unveiled its new quality productive forces fund at a financial empowerment for high-quality development conference on March 29.

The fund will mainly comprise three categories: industry guidance, industry support, and industry development.

The industry guidance fund focuses on accelerating the development of Ordos' four world-class industries and advancing the establishment of the Ordos area of the Inner Mongolia Free Trade Pilot Zone. It aims to attract industrial projects and guide the development of advantageous industries.

The industry support fund revolves around implementing the region's "five major tasks" and the Three-North Shelterbelt Forest Project. It will leverage the role of industrial funds in the ecological protection, rural vitalization, and public services sectors.

The industry development fund focuses on State-owned capital preservation and appreciation. It will broaden investment attraction channels, and strengthen cooperation with leading domestic fund management companies and entities with independent innovation capabilities in order to fully explore high-value research projects.

The new quality productive forces fund will adopt a three-tier management structure, aiming to optimize decision-making processes and improve efficiency.

According to the plan, the fund will meet development targets for five years.

These targets include the establishment of an industry guidance fund with an investment of over 10 billion yuan, as well as the creation of an industry support fund with a scale of no less than 10 billion yuan. Other targets are to invest and hold shares in an industry development fund with a scale of no less than 10 billion yuan; to invest in no fewer than 100 fund-invested enterprises and projects, and to cultivate or attract fund management companies in Ordos with a fund scale of more than 10 billion yuan.

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