On July 29, the "Taicang Entrepreneurship and Investment Day" was launched in Taicang, Suzhou, East China's Jiangsu province. The event was to promote the collaboration between financial capital and enterprises and thus empower the high-quality development of the city.

"Taicang Entrepreneurship and Investment Day" is launched in Taicang on July 29. [Photo/WeChat account: tcfbgw]

During the launch ceremony, two mother funds of Suzhou, each worth 6 billion yuan ($836.08 million), were signed to invest in the high-end equipment and biomedicine, respectively.

In addition, four investment funds were established in Taicang, with the largest fund reaching 2 billion yuan. Recruitment for the general partner (GP) of the Taicang New-Quality Productive Force Industry Fund, totaling 1 billion yuan, was also initiated. A number of cooperative funds and financial investment projects have been established to provide additional support for the development of enterprises.

Xu Huadong, mayor of Taicang, expressed his hope during his speech, emphasizing his desire for investment institutions and financial organizations to channel high-quality projects and industrial resources into the city. He further encouraged entrepreneurs to enhance their research and development efforts to create more competitive products. His dedication to establishing an improved investment and financial landscape to support and advocate for investors and entrepreneurs was resolute.

Currently, Taicang is home to 13 equity investment fund management companies and 54 equity investment funds totaling over 26 billion yuan. Taicang's largest state-owned asset management group has established partnerships with 35 investment institutions, resulting in an aggregate fund size surpassing 41.5 billion yuan.

Looking ahead, Taicang plans to organize monthly activities to service key industries, enterprises, and technology development, facilitating the city's industrial transformation and upgrading.