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Summit on private funds
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THE two-day Global Private Funds West Lake Summit opens today in Hangzhou. Industry leaders and government officials from Hangzhou and Greenwich, Connecticut, United States will attend the summit.
A series of commercial activities in Yuhuangshan Town will be the highlight of the summit. The Hangzhou government set up the town last year and aims to develop it into China’s Greenwich, which is home to many hedge funds and financial service organizations.
By September this year, Yuhuangshan’s asset under management had already reached 560 billion yuan, and revenue from taxes touched 984 million yuan. It is expected to introduce around 2,000 financial organizations with an asset size of 2 trillion yuan in next three years.
The Greenwich government is sending a delegation to the summit. The two towns will cooperate with each other in the fields of investment and professional exchange.
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