The Guangdong Financial High-tech Zone, located in Foshan’s Nanhai district, close to the border of Guangzhou, has attracted more than 670 financial institutions and enterprises in the past 12 years.
Yes, we have never heard of it, either.
The provincial government backed high-tech zone, which is positioned as a support base for the development of the province’s finance industry, has seen its companies execute investments worth RMB112 billion, with RMB820 billion of assets under management.
The zone is home to over 30,000 staff, primarily working as back-office support to finance companies. They work mostly in clusters. In the Qiandenghu (Thousand Lamp Lake) town, for example, there are 489 private equity funds with names such as IDG Capital, Technology Financial Group, Beijing Heju Investment, and China Trust Protection Fund. These have raised a total of RMB61 billion.
Last year, the Financial High-tech Zone set an audacious new goal for itself: to create a “blockchain” powered fintech innovation base, and to construct a complete value chain that complements the Qiandenghu Venture Capital Town.
Now that we know about it, watch this space for more detailed introduction to the zone.