To thoroughly implement the spirit of the 20th CPC National Congress and serve the national strategy for the integrated development of the Yangtze River Delta (YRD), Yangtze River Delta Fund II, initiated by SIG, was officially inaugurated on February 21.

    Initiated by SIG in collaboration with Guotai Junan Securities, China Pacific Insurance Group, Shanghai Airport Authority and other municipal state-owned enterprises under the guidance of the Shanghai Municipal State-owned Assets Supervision and Administration Commission, with the support of Pudong New Area and the engagement of enterprises and institutions in Jiangsu, Zhejiang and Anhui, including Nanjing Yang Zi State-owned Investment Group, Hefei ChangXin Memory Technologies Inc., Hangzhou Hundsun Technologies and Huzhou Industrial Investment. With a target size of 10 billion yuan, and a contract amount of 7.1 billion yuan for first-round closure, the fund will settle in Pudong New Area.

    The inauguration of Yangtze River Delta Fund II coincides with the fifth year after the integrated development of YRD was upgraded to a national strategy, which marks important progress for Shanghai to further play its leading role and actively implement the national strategy, and another significant achievement for the one municipality and three provinces in YRD to pool efforts to promote high-quality development. The fund will invest in three leading industries - integrated circuits, biomedicine and AI, to help core industrial enterprises develop internationally advanced technological capabilities and industrial systems, drive the development of innovative industries and expand their scale, and promote the formation of globally competitive industries in YRD. The fund will serve the overall interests, leverage its power of strategic leadership, and channel more social capital into strategic industries and key fields in YRD; will serve the real economy, improve the resilience and security of industrial chains and supply chains, and enhance international competitiveness; will serve technological innovations, foster underlying innovation power, and help YRD develop into a source of original technology; and will pursue market-oriented and specialized operation, and uphold the basic orientation of long-term capital and patient capital, to achieve long-term sustainability.

    SIG initiated Yangtze River Delta Fund I in 2018 along with a number of financial institutions, industrial parties and business groups in Shanghai, Jiangsu, Zhejiang and Anhui, becoming China's first industrial fund focusing on the national strategy of YRD. Over the past four years, the fund has conducted refined industry-specific operations, forged ahead with innovations, achieved co-prosperity through regional collaboration, fostered more than 120 national specialized, refined, distinctive and innovative "small giant" enterprises, focused on integrated circuits, biomedicine, AI and other leading industries, invested in a dozen frontier fields such as third-generation semiconductor, gene sequencing, innovative medicine, information security and trustworthiness, aligned itself with internationally advanced innovations, helped accelerate the formation of advantageous industrial clusters in YRD, and constantly fostered the global competitiveness and influence of leading industrial chains. With a total subscribed capital of more than 14 billion yuan, Yangtze River Delta Fund I and II are the earliest and largest demonstrative projects with the highest levels and deepest accumulation among the equity investment industrial funds that serve the national strategy for the integrated development of YRD in the market.