The second phase of Guodiao Fund has landed in Wuxi

　　On August 6, 2021, the founding meeting and first shareholders' meeting of China State owned Enterprise Structural Adjustment Fund Phase II Co., Ltd. were held in Beijing. China Chengtong Holding Group Co., Ltd., Wuxi the Taihu Lake Industrial Development Investment Fund, China Mobile Communications Group Co., Ltd., China Telecom Group Investment Co., Ltd., China Railway Capital Co., Ltd., China Communications Construction Co., Ltd., China Communications Investment Co., Ltd., China Communications City Investment Holding Co., Ltd., China Energy Construction Fund Management Co., Ltd., China Resources Investment Venture (Shenzhen) Co., Ltd., China XD Group Co., Ltd. and China Merchants Securities Investment Co., Ltd., as the co sponsors of the funds, sent representatives to attend the meeting. Chairman Hou Haifeng of the company spoke as a shareholder representative at the meeting.

　　The dual significance of Guodiao Fund settling in Wuxi is to serve the reform of state-owned assets and enterprises, and promote the economic development of the Yangtze River Delta region. Guodiao Fund is a "national level" equity investment fund approved by the State Council and established and operated by Chengtong Group. It shoulders important missions such as optimizing the layout structure of the state-owned economy, enhancing industrial concentration, and improving the efficiency of state-owned capital operation. After the first phase of the fund has basically completed its investment tasks, it intends to introduce local economies with structural adjustment leading advantages to jointly build the second phase of Guodiao Fund. As a member of the "GDP Trillion Club", Wuxi has in recent years deeply implemented the core strategy of innovation drive and the leading strategy of strengthening the city with industries. With obvious advantages in industrial characteristics and solid industrial foundation, it is accelerating the construction of a regional collaborative innovation system in the the Taihu Lake Bay Science and Technology Innovation Belt, creating a new industrial landmark to support high-quality development, and striving to be the first in the construction track of "strong, rich, beautiful and high".

　　On December 17, 2020, the Wuxi Municipal Government and Chengtong Group officially signed an investment cooperation agreement. Both parties, as cornerstone investors, jointly initiated the establishment of the second phase of the National Survey Fund, building a multi-level and all-round strategic cooperation relationship. The second phase of the national research fund settling in Wuxi is a practical measure to deeply implement General Secretary Xi Jinping's important discourse on state-owned assets and enterprises, as well as an important practice to promote the implementation of the "Three Year Action Plan for State owned Enterprise Reform". It has a dual significance of serving the overall development of state-owned assets and enterprises reform and achieving high-quality regional economic development. On the one hand, the second phase of the National Research and Development Fund continues to inherit the genetic code of "structural adjustment of state-owned enterprises", and will promote the rational flow and optimization of state-owned capital allocation through equity investment, mergers and acquisitions, and other forms, promote the appreciation of state-owned assets, state-owned enterprise reform, and industrial transformation, and horizontally achieve maximum value; On the other hand, by deeply cultivating Wuxi's advantageous industries such as integrated circuits, biomedicine, artificial intelligence, and high-end manufacturing, supplementing and strengthening the industrial chain, vertically empowering the industrial ecosystem, it will help strengthen Wuxi's "C-position responsibility" in the integrated development of the Yangtze River Delta.

　　As the initiating shareholder, Wuxi will also leverage its own resource endowment and location advantages, starting from fund cooperation, gradually expand cooperation areas, deepen cooperation connotations, and enhance cooperation levels, promoting the rapid development of the second phase of the National Development Fund; At the same time, being a good "waiter" for enterprises, assisting funds in building solid industrial and financial bridges, and fully providing the best business environment and government services for fund investment operations.