The launch ceremony takes place for the Want Want Group and CICC Capital industry fund. [Photo/Xiamen Daily]
Want Want Group and CICC Capital recently launched an industry fund at a ceremony in the Tong'an district, Xiamen.
The fund represents Want Want Group's first collaboration with a government-led industrial fund, establishing a model for win-win cooperation between State-owned assets and private enterprises.
The Xiamen Free Trade Zone Industrial Guidance Fund also participated in the joint effort.
As early as January, the Xiamen FTZ Guidance Fund approved participation in the equity investment fund cooperation between CICC Capital and Want Want Group.
The industry fund collaboration is also expected to help CICC Capital, Want Want Group and their industrial ecosystem establish a mutually beneficial relationship with Xiamen, fostering cooperation that promotes mutual success between Fujian and Taiwan.
In terms of the capital market development between Fujian and Taiwan, the Xiamen FTZ Administration Committee actively supports the establishment of a Taiwan-funded Board in the cross-Strait equity trading center.
It assists banks in providing custody services for equity investment funds from Taiwan. It is also said to help establish a financing and credit enhancement fund for small and medium-sized Taiwan enterprises using the digital RMB in the FTZ and to help drive innovation in cross-Strait insurance services.