The final fund manager of the RMB6B Mianyang Technology Industrial Investment Fund (Mianyang Fund) has been confirmed. CITIC Industrial Fund Management Co., Ltd. under CITIC Securities will become the manager and main arranger of the Mianyang Fund.

Reportedly, besides CITIC Securities, China Gaoxin Investment Group and a Mianyang-based enterprise Z.K.C Environmental Group Co.,Ltd. will also participate in the fund launch. The above three companies will put their self-capital into Miaoyang Fund for a total 20% stake.

According to Mianyang Development and Reform Commission, Mianyang Fund will be officially established at the end of June of this year. The investment targets include hi-tech, state-owned military shifting to civilian, environmental protection sectors, and for technology urban construction and China western urban infrastructure projects. The operation mode of the fund has yet to be decided.

In September 2007, the fund was approved by the State Council, becoming one of the second batch of fund pilots and also the first western industrial fund approved by the State Council. Its pilot experience will provide reference for other western industrial funds.