Recently, Hebei Industrial Investment Co., Ltd. was set up in Shijiazhuang, the capital city of Hebei Province. It is the first-ever industrial investment company in the Province with privately-owned capital playing leading role. The company initially plans to establish an RMB1B fund, which will be managed by the VC team led by Mr. Zhidong Kan.

The industrial investment fund is reportedly to foster a new model after introducing government guidance funds as partners of privately-owned capital. It aims to support and promote small and medium-size enterprises in Hebei Province to rapidly develop, and encourage and drive small and medium-size high-tech enterprises there to get access to the capital market, thereby expediting the healthy and rapid development of the local high tech industry.

Deputy Secretary-General of Hebei Province and the Provincial Financial Director of the General Office, Yuqiang Shi said that Hebei Industrial Investment Co., Ltd. will establish a more flexible financing platform for the local high tech enterprises with high growth contents, in the contexts of the increasingly mature domestic capital market and the upcoming launch of the Growth Enterprises Market board. 

Besides managing Hebei Industrial Investment Fund, Zhidong Kan also established the Shenzhen Capital Group, Orica Capital Co., Ltd., and Ao Rui Wan Jia (literally translated) Venture Capital Co., Ltd. In addition, he is feverishly preparing for the establishment of Anhui Huishang Industrial Investment Fund, whose planned registered capital will come to RMB1B.