A ceremony was recently held in Luohu to sign agreements related to the funding of Luohu’s software and information service industries.

More than 60 representatives of state-owned investment companies, such as Shenzhen Hi-Tech Investment, Luohu Investment Holdings, and Luohu City Development, as well as 31 joint-stock cooperative companies and 15 enterprises from the software and information services sectors, attended the event.

Attendees had in-depth discussions on how to enable financial services to better facilitate cluster development within the software and information services industries in Luohu.

The fund comprises Shenzhen Hi-Tech Investment, Luohu Investment Holdings, Luohu City Development, and 11 other joint stock cooperative companies. Currently, the fund has raised more than 2.39 trillion yuan ($331 billion), and its main investment objectives are developing quality private enterprises in the software and information services industries and assisting them in making breakthroughs in key technologies.

The purpose of establishing the fund is to vigorously integrate the financial, capital, and the district’s other resources and, through market-oriented means, support software and information service enterprises to focus on core technology research and development and software product innovation, explore more new models, new formats, and new experiences, and add more vitality, motivation, and innovation to the economic and social development of Luohu and the city, according to the Luohu District Government.

Liu Suhua, president of Shenzhen Hi-Tech Investment, pointed out that the establishment of this fund is a new exploration of the win-win cooperation model of state-owned enterprises, joint stock cooperation companies, and private enterprises and a new path for financial resources to accurately support the development of Shenzhen's scientific and technological innovation industry.

As a key enterprise in Luohu, the company will actively focus on the strategic positioning and development direction of Luohu and constantly improve the full lifecycle service advantages of its "debt + equity + diversified financial instruments + comprehensive value-added services." It will build closer, more efficient, and more diversified cooperation platforms with various business entities, including joint-stock cooperative companies and private institutions so as to complement each other's advantages and achieve common development.

Zhang Qixin, chair of the Luohu Collective Economic Development Federation,

president of Hubei Stock Industrial, and a representative of the joint-stock cooperative companies taking part in the fund, said that the federation would continue to play a beneficial role in the platform to promote joint-stock cooperative companies to further deepen cooperation with state-owned enterprises in the financial field and promote collective economic development to be more dynamic and sustainable.