The Changsha Xinhong Private Equity Fund, the first Qualified Foreign Limited Partner (QFLP) pilot fund in Hunan, located in Changsha on July 10.

A signing ceremony for the QFLP pilot fund was held at the Changsha Economic and Technological Development Zone the same day. During the event, the JQ Securities (Hong Kong) Limited officially inked an agreement with the Changsha Economic and Technological Development Zone Management Committee. With the signing of the agreement, foreign capital equivalent to no less than 1 billion yuan will be introduced to invest in high-tech industries covering new energy, new materials, energy-saving technology, biomedicine, and semiconductor materials.

The new fund highly dovetails with Changsha's future industrial development direction. Taking the establishment of the fund as an opportunity, Changsha will further bring in international capital and sci-tech innovation projects, provide better ecosystem, environment, and services, further boost industrial upgrading, and accelerate the cultivation of new quality productive forces.

QFLP serves as an essential channel for foreign entities to carry out domestic equity investment. It has the advantages of strong driving forces, flexible organizational form, and multiple profit models, which is conducive to further promoting investment liberalization and facilitation and better attracting foreign capital.

Source: en.changsha.gov.cn