The southeast coast is "small and transparent", I don’t want to be low -key anymore

Another member of the Ten billion mother fund square matrix.

Five cities in southwestern Fujian (Xiamen, Zhangzhou, Quanzhou, Sanming, Longyan) have recently announced that they plan to jointly build a capital development fund in southwestern Fujian. The total scale of the fund is 10 billion yuan. The municipal finance contributed 30%of the capital contribution.

Prior to this, Fujian has set up a tens of billions of parent funds this year. This former "venture capital desert" is vigorously attracting VC/PE to take root.

In January, the Fujian Provincial Marine Economic Industry Investment Fund's parent fund initiated by Ningde City Investment Corporation, with a total scale of 20 billion yuan; a few days later, Quanzhou Jianfa Group initiated the establishment of Quanzhou Transportation Development Industrial Mother Fund with a fundraising scale of 10 billion yuan Essence

Why is it so big? There is pressure to come to Fujian.

On the one hand, "pacesetters" and "chasing soldiers" have trained in the capital market -Hubei with Wuhan as the core has been rolling for more than ten years in the venture capital circle. Changsha's new consumption IP is Hunan It attracted a large wave of investors, and Anhui was trying to enlarge the "Hefei model".

More importantly, compared with star provinces such as Guangdong, Zhejiang, Jiangsu and other stars, Fujian is relatively "transparent" compared with the southeast coastal provinces. It is urgent to accelerate industrial upgrading, cultivate emerging industries, and actively provoke "big beams".

01

"Mother Fund" has become a hot word in the development of local economic development.

According to incomplete statistics, since this year, nearly 20 tens of billions of parent funds in the country have been established. In addition, it is not an exaggeration to describe the "blowouts" with large and small governments at all levels.

In this regard, some people in the industry laughed that although the equity investment market rarely heard the news of the success of the VC/PE new phase of fund fundraising, the sound set up by the tens of billions of parent funds was higher than the waves.

The reason is that attracting investment is certain, that is, "the mother attracting the child, the investment of the child, and the promotion of the industrial development."

Photo source: Photo Network 501278073

As the former "Venture Capital Desert", Fujian has obviously made great efforts in recent years, and it has a trend of the rise of the "new power of venture capital". In recent times, it has successfully attracted attention from the inside of the (venture capital) circle.

In January, the Fujian Ocean Economic Industry Investment Fund's parent fund, Fujian Province, which was established by Ningde City Investment Corporation, successfully filed. The fund is positioned as a government -funded industrial investment fund with a total scale of 20 billion yuan, which is established and operated in accordance with the structure of the "parent fund+sub -fund".

In the same month, the first national SME Development Fund in Fujian Province -SME Development Fund Jingwei (Xiamen) investment partnerships landed in Xiamen and subscribed to 2.5 billion yuan. SMEs such as services, new supply chains and other fields.

In March, the Fujian Provincial Government Investment Fund Co., Ltd. was established with a registered capital of 10 billion yuan. The fund will focus on the fields of digital economy, marine economy, green economy, Fujian and Taiwan integration, and Haisi cooperation.

In April, the Xiamen Tongan District Government and Jinyuan Group collaborated on the establishment of two parent funds with a total scale of 15 billion: district -level science and technology innovation parent funds and industrial investment and acquisition of parent funds.

In addition, on February 28 this year, the Fujian Provincial Financial Investment Co., Ltd. was registered and established, with a registered capital of 100 billion yuan, which was funded by the Fujian Provincial Department of Finance. According to industry and commerce information, the company's business scope includes private equity investment fund management and entrepreneurial investment fund management services.

Behind the magnificent "marching" venture capital, it triggered another interesting comparison -Can Fujian catch up with Hubei?

In the field of venture capital, Hubei has an advantage. Wuhan, as one of the earliest cities that laid out private equity investment and support the development of regional industries with financial instruments such as private equity, and supported the development of regional industries, naturally gave Hubei a lot.

Public reports show that the Hubei provincial -level venture capital guidance fund was established and started operation as early as 2008.

At the end of March this year, the Yangtze River Industry Group officially integrates the establishment of a 50 billion yuan parent fund, which is composed of 10 billion yuan of the Yangtze River Venture Capital Fund and the reorganization of 40 billion yuan in reorganization. It is the largest parent fund this year.

A background is that in the GDP rankings across the country, Fujian surpassed Hubei in 2020 and ranked 7th in the seventh position for the first time, leading the latter 46.043 billion yuan. However, in the second year, Hubei rejected over 5 trillion new results and re -overtime, and Fujian fell into 8th.

In the first half of this year, Fujian GDP led Hubei with an advantage of 10 billion yuan. Specific to the industry, the gap between the two was not actually large. If Fujian can bloom in the field of venture capital, forming new economic growth points, the opportunity will also increase significantly.

02

This time, Fujian's eyes locked in southwestern Fujian, obviously he also had a deep intention.

The work report of the Fujian Provincial Government clearly states that a major key task of this year is to solidly promote regional coordinated development. In addition to implementing the strategy of strong provincial capitals, it is also necessary to "promote the integrated development of the Xiamen and Zhangquan metropolitan area and drive the coordinated development of southwestern Fujian". At the same time, "support Longyan and Sanming Construction of High -quality Development Demonstration Zone in the Old Revolutionary District of Fujian.

Promoting the development of southwestern Fujian is vital to Fujian.

From the perspective of economic volume, the southern Fujian region, which has two generals in Quanzhou and Xiamen, has a long -term better than Fuzhou -based Fujian. Last year, Fuzhou GDP reached 1.13 trillion, and finally completed the surpassing Quanzhou, but the difference was only 2 billion yuan. And Xiamen has also reached 700 billion steps for the first time, reaching 703.389 billion yuan.

By the first half of this year, Quanzhou regained the first position in Fujian again, with GDP 563.79 billion. Fuzhou and Xiamen ranked in two or three with 544.27 billion and 366.32 billion, respectively. The "first" disputes in Quanzhou and Fuzhou have not subsided.

The development of southern Fujian has always been inseparable from its developed private economy. According to the Wind financial terminal data on August 2, compared with 49 listed companies in Fuzhou, Xiamen, Quanzhou, and Zhangzhou each have 63, 9 and 6, and the market economy culture is deeper.

The company's innovation also brings more technology -based enterprises to southern Fujian. According to the list of national specialized new "Little Giant Enterprises", which are supported by the Ministry of Industry and Information Technology, there are 32 companies on the list of Xiamen, ranking 12th in the country, and Fuzhou failed to rank among the top 30 cities.

From the perspective of investment, the fund will give priority to projects that meet the key development of the area of ​​the five cities in the region, and the active market environment in the southern Fujian region will make the fund be able to exert its skills. For example, Ding Changfa, an associate professor at the Department of Economics of Xiamen University, analyzes that Xiamen's high -precision industries can just be able to adapt to the fund's investment preference.

Photo source: Photo Network 5015711220

More importantly, the fund is co -raised by the five cities in southwestern Fujian, and it is also intended to improve the level of cooperative development of local cross -city.

From the perspective of the source of funding, the fund is a limited partner designated by the funding subject designated by the fifth cities in southwestern Fujian. Among them, Xiamen's investment accounts for 40%, Zhangzhou and Quanzhou have 20%of the capital contributions, while Sanming and Longyan each are 10 each. %. Behind the joint funding, the fund will be used to promote the construction of urban groups, port groups, and industrial groups in southwestern Fujian.

In Ding Changfa's view, the degree of industrial synergy in the five cities in southwestern Fujian is not high. For the most economically developed Quanzhou and Xiamen City, Governor Quan Yu Yufu shoes and petrochemicals, while Xiamen is electronic information and mechanical manufacturing. From the perspective of the industrial chain ecosystem, the two are not enough to match.

Quanzhou, manufacturing, is not room for misplaced with Xiamen. In fact, as early as ten years ago, Quanzhou enterprises set off a wave of migration of the headquarters to Xiamen, and they were concentrated in the Guanyin Shan International Business Operation Center area specially built for the headquarters economy at that time. At that time, some entrepreneurs said that Xiamen was stronger than Quanzhou in terms of talent, transportation and information advantages, and the two actually formed a supporting relationship between the "front shop and rear factory".

But market cooperation does not mean that cities have reached a tacit understanding. In fact, although the cooperation framework agreement signed a cooperation framework agreement on the metropolitan city as early as 2011, there was no gap between cities. Not only did the three cities' joint meeting of the party and government persisted only twice, but Quanzhou's ambiguous attitude towards the economy of Xiamen Headquarters also entered the discussion. Until recent years, the headquarters of the original movement of Xiamen has further moved to Shanghai, and the original cooperation model of the two cities has attracted attention again.

In Ding Changfa's view, Xiamen and Quanzhou can make division of labor between the development and manufacturing of enterprises. Under the relative advantages of Xiamen's talents, it can better play a financial role and promote further collaboration between the two cities and even the five cities in southwestern Fujian. The establishment of the fund is a new beginning, but how the effect still needs to be tested in the market.

03

There are many well -known cities, but they have not been able to cultivate a top city, which has always been a shortcoming of Fujian. The balance and coordination between different cities also continue to write the story line of Fujian development.

Photo source: Photo Network 501409893

Right now, Fujian is ushered in a new historical node. Earlier last month, a seminar on the main person in charge of the government of the southeast coastal province was held in Fujian.

The current economy is recovering, but the foundation of recovery is unstable. At the critical time point, as an economic volume account for more than one -third of the country, and the proportion of fiscal revenue accounts for nearly 40 %. In the local five provinces and cities that contribute nearly 80 % of the local finances to the central government, we must continue to provoke national development of the country's development. , To stabilize the economy to play the main role of ensuring national financial resources. The meeting of the Political Bureau of the CPC Central Committee held a few days ago proposed that "the big economic provinces must be bravely picked up, and conditions for provinces with conditions must strive to complete the expected goals of economic and social development."

Looking back at economic data in the first half of the year, Fujian's economic performance was quite prominent in the five provinces and cities along the coast. Not only does the growth rate reaches 6.5%, it ranks first in the five provinces and cities of the coast, and even coastal provinces, and in the segmented data, the added value of the industry is as high as 6.5%, which also ranks first in the five provinces and cities, exceeding the national level 3.1 3.1 One percentage point.

Can Fujian maintain this advantage?

According to Ding Changfa's analysis, Fujian's lead is accidental. In the first half of this year, the two regions of the Yangtze River Delta and the Pearl River Delta were seriously affected by the epidemic. In contrast, Fujian was less affected. This has both the probability factor and benefits from the requirements of Fujian under the requirements of "the epidemic should be defended, the economy must be stabilized, and the development is safe". In particular, some overseas orders flow into Fujian, which has increased the development speed of Fujian in the short term.

However, it is also impossible to ignore the long -term overtaking trend of Fujian's economic growth. From the perspective of GDP rankings, the 23rd in the reform and opening up, Fujian has steadily risen year by year, standing in the southeast coastal provinces and cities, and it is also the inevitable performance of Fujian to come up with bright results in the first half of the year.

More actions also mean greater responsibilities. At the province's first half of the economic conference in the province not long ago, Fujian governor Zhao Long pointed out that Fujian should continue to maintain economic operation in a reasonable range and "strive to contribute to the overall situation."

As the past coastal depression, the ridges are constantly standing up. How can Fujian provoke the "beam"? Ding Changfa believes that with the continuous complement of the shortcomings of funds, the most important thing in Fujian is to improve the quantity and quality of talents. One example is that from the perspective of the number of universities, Fujian is ranked 15th in the country with 89, and the gap between Jiangsu (167) and Guangdong (160) in the country. The number of "double first -class" universities is only two, and it is the end of the five provinces and cities along the coast.

"Universities can attract talents and cultivate talents. In the past two years, Guangdong has still established universities in crazy. Can Fujian build a few more good universities? Only one Fuyao University of Science and Technology is not enough." Ding Changfa said.

Another factor that attracts talents is the development of cities and industries.

"Among the five provinces and cities in the southeast coast, Fujian is the only province that does not have a large city." Ding Changfa analyzed. "Only when the population reaches a certain scale and the city can exert the scale effect, can it be conducive to the scarcity resources outside the region, including talents, funds, and funds, funds, and funds, funds, and funds, funds, and funds, funds, funds, and funds, funds, funds, and funds, funds, and funds, funds, funds, and funds, funds, funds, and funds, funds, and funds, funds, and funds. Technology, information, and industries are attracted. "

Can a real "strong city" be cultivated through the collaboration between cities? Southwest Fujian will be a key area.

Reporter | Yu Rui Jun Yang abandon Fei

Edit | Yang Huan He Xiaotao Dubo

School Division | Zhang Yiming

｜ Daily Economic News nbdnews original article ｜

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