On the 5th of October 2016, the Chengdu Economic Daily published an article regarding the Tianfu International Fund Area and we summarise the article as follows.
“The objective of the Tianfu International Fund Area, is to develop a financial and fund epicentre within the Tianfu New Area, Chengdu, and to attract reputable institutions and enterprises operating within the banking, finance, private equity and venture capital sectors.
The Tianfu International Fund Area, which is managed by the Chengdu Wanhua Group, is located close toChengdu Science City, was officially opened on the 26th of June 2016 and will be developed over three phases.
The first phase will cover the development of 200 acres, of which 140,000 square metres of buildings have already been built and can accommodate over 200 capital and finance institutions.
The project envisages by 2017 to attract 150 capital institutions, managing RMB 200 Billion in funds and by 2022, 450 capital institutions managing RMB 600 Billion in funds.
Furthermore, in 2016 RMB 90 million will be invested in developing hotels, galleries and an artists’ village (“Lu Village”).
In stage two, RMB 1.6 Billion will be invested to accelerate the construction of further buildings and programs, including business and entrepreneur incubators, hotel style apartments and investment programs.
The Tianfu International Fund Area was designed by the Atkins Global Group, one of the world’s most respect design engineering and project management consultancies.
The Tianfu International Fund Area investment service and roadshow centre has commenced operations and are in the midst of attracting further enterprises.
Currently, 53 institutions, managing RMB 9.1 Billion in funds have set up operations within the Tianfu International Fund Area, including GGV Capital, SkyChee Ventures, Sino French Aviation Advanced Technology Fund, Huaxi Financial Securities and Sichuan Trust.
Mr Yu Lifeng, the managing partner of the GGV Capital, stated “GGV Capital has four projects within Chengdu totalling RMB 300 million. Chengdu is Western China’s financial centre, its economic growth has been significant compared to other Western China regions and the Chengdu Municipal Government has provided extensive support and incentives.
“Since the development of the Tianfu new area, GGV Capital has invested in several projects within the internet intelligent technology, AY/VR sectors.”
Mr Yu Lifeng also stated, “the importance of the Tianfu International Fund Area, centres on its abilities to attract financial institutions, intermediaries, VC/PEs, and thereby creating a unique financial and investment ecosystem.
“Furthermore, it will attract a large number of high tech research and science institutes and accordingly better attract venture capital technology investment.”
The Tianfu International Fund Area will also work with famous investment think tanks to attract reputable financial research institutions and develop it as an eco-cluster of funds”, end article.
The Tianfu New Area
In October 2014 , China’s State Council approved the development of the “Tianfu New Area” a national development zone, covering 1,578 kms within the Sichuan province, Western China.
Accordingly the China’s State Council decision, places the Tianfu New Area on the same level as Shanghai’s Pudong New Area, Tianjin’s Binhai New Area, Chongqing’s Liangjiang New Area and Shaanxi’s Xixian New Area.’
China’s State Council said in a statement “that the Tianfu new area will explore new ways of development and opening-up in China's western regions, enhance economic growth in the country's inland regions and push forward economic restructuring”.
The Sichuan People’s Provincial Government is overseeing the development of the Tianfu New Area and it has delegated a significant area of 1,293kms to the Chengdu Municipal Government to manage and develop.
The Tianfu New Area stretches from Southern Chengdu to the neighbouring cities Meishan and Ziyang. In July 2015 the Tianfu New area became more accessible with the metro line 1 opening new stations and linking it with Chengdu’s business and downtown districts.
The Tianfu New Area master plan also envisages, developing specialist zones the innovative and strategic industries of bio-medicine, bio pharmaceutical, energy conservation, new materials, intelligent manufacturing, high quality equipment manufacturing and advanced information technology applications.
The master plan also envisages making the area an ideal place to live and work with extensive parklands and an ecological belt stretching for 10.8kms. Currently apartments and hotels are sprouting our close to the 3rd and 5thTianfu railway stations and the constructions is unabated.
The Tianfu New Area will also be home to Chengdu’ second airport, the Chengdu Tianfu InternationalAirport and it will make Chengdu China’s 3rd city with two international airport after Beijing and Shanghai. .
Currently within the Tianfu New area, constructions has commenced on the Western International Expo Center, which will be the largest exhibition centre within Western and Central China. The 840,000 sqm center will become the permanent venue for the Western China International Fair and other significant exhibitions within the automotive, food and tourism industries to name a few.
As we recently reported the in April 2015 German North Rhine-Westphalia state agreed to develop a RMB 2 Billion project to construct a range of office buildings, research centers and other facilities to foster China - Germany business and cultural exchanges.
Finally, as we have regularly advocated those professionals, start-ups and enterprises that make that undertake regular business and research trips to Chengdu and Sichuan over the long term will reap significant economic rewards.
Disclaimer: This article was written and researched by www.investinchengdu.com and Chengdu ‘Dailu’ Business and Management Advisory Services Co Ltd. 成都带路企业管理咨询有限公司
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