3 years on Changfeng Financial Port a success
By Li Anlan |
June 15, 2013, Saturday
|
Print Edition
Print Edition
THREE years ago, Changfeng Financial Port was established in an effort to make Putuo a leading district attracting brokerage houses, private funds, financial institutions and accounting firms.
Since then, the port has welcomed 92 firms companies worth 12.6 billion yuan (US$2.03 billion). Thirty-four funds have invested in projects worth around 4 billion yuan in fields such as new materials, chemical engineering, mineral resources and transportation.
Changfeng Financial Port is a platform that combines direct and indirect fundraising.
The complete, multi-level coverage of corporate financial service systems solves the finance issues of many small- and medium-sized companies, making the harbor an ideal place for them to develop.
Changfeng International Mansion at 88 Yunling Rd E. was invested by the district's state-owned assets management company. In the first three years, the office space is leased rent-free. With lower entry costs and other incentives, companies can start out on the right track.
Shanghai Changying Capital was founded in 2011 with a scale of 500 million yuan and an operation length of 10 years. The fund mainly invests in consumer goods, medical care, agriculture and new energy.
The fund led by the Putuo District Government combines state capital with private capital in an effort to support medium- and small- sized enterprises in the district and guide excellent companies to the capital market.
Adding a financial sector port to the Changfeng business district aims to attract capital funds as well as resources and companies.
"To define a high level business district, you have to have the finance sector," said Zhou Shuiwen, president of Shanghai NewMargin Ventures, a leading Chinese venture capital management company founded in 1999.
NewMargin was one of the first companies to settle in Changfeng three years ago, at a time when the industry was booming and more people entered the market.
"To support us, the Putuo District of Shanghai State-owned Assets Management Co invested 100 million yuan in our first fund installment and 50 million yuan in second installment as a general partner," Zhou said.
In three years, the company has invested in 18 projects, he said.
"Policy wise, each district is more or less the same, but what we value here is the great environment and adequate services," Zhou said. "Our line of business likes the effect of concentration, and a lot of people here are my friends."
In two years, Changying has invested in two companies, Hangzhou Synochip Technologies and Shanghai Linguo Tech.
Xu Jianping, a partner of Shanghai Changying Capital, was also one of the founders of Changfeng Financial Port.
"We not only think about investing outside, but also about bringing companies back to Putuo," Xu said. "NewMargin was the first company to settle in Changfeng, and their tax revenue for the first year was 105 million yuan, so it definitely has impact on the district."
The finance port creates opportunities and a place for communication between different capital funds.
"The success of Changfeng Finance Port was the result of all the support we got from the government and Putuo State-owned Assets Management Co," Xu said, "Putuo was not developing fast back then, but it acted in time and provided assistance throughout the process."
Recently, Putuo District is aiming to develop the Taopu area in the west, a less-developed place once crowded with factories. The 19,521-acre area has not been used efficiently and there are plans for a complete make-over.
The development will require massive efforts, time and money. Since Changfeng has successfully built a financial port, it is ready to "give back" by supporting Taopu, said Xu. Taopu's development will provide more economic opportunities and benefit all parties, he said.
(Chen Yufei contributes to the story.)
Since then, the port has welcomed 92 firms companies worth 12.6 billion yuan (US$2.03 billion). Thirty-four funds have invested in projects worth around 4 billion yuan in fields such as new materials, chemical engineering, mineral resources and transportation.
Changfeng Financial Port is a platform that combines direct and indirect fundraising.
The complete, multi-level coverage of corporate financial service systems solves the finance issues of many small- and medium-sized companies, making the harbor an ideal place for them to develop.
Changfeng International Mansion at 88 Yunling Rd E. was invested by the district's state-owned assets management company. In the first three years, the office space is leased rent-free. With lower entry costs and other incentives, companies can start out on the right track.
Shanghai Changying Capital was founded in 2011 with a scale of 500 million yuan and an operation length of 10 years. The fund mainly invests in consumer goods, medical care, agriculture and new energy.
The fund led by the Putuo District Government combines state capital with private capital in an effort to support medium- and small- sized enterprises in the district and guide excellent companies to the capital market.
Adding a financial sector port to the Changfeng business district aims to attract capital funds as well as resources and companies.
"To define a high level business district, you have to have the finance sector," said Zhou Shuiwen, president of Shanghai NewMargin Ventures, a leading Chinese venture capital management company founded in 1999.
NewMargin was one of the first companies to settle in Changfeng three years ago, at a time when the industry was booming and more people entered the market.
"To support us, the Putuo District of Shanghai State-owned Assets Management Co invested 100 million yuan in our first fund installment and 50 million yuan in second installment as a general partner," Zhou said.
In three years, the company has invested in 18 projects, he said.
"Policy wise, each district is more or less the same, but what we value here is the great environment and adequate services," Zhou said. "Our line of business likes the effect of concentration, and a lot of people here are my friends."
In two years, Changying has invested in two companies, Hangzhou Synochip Technologies and Shanghai Linguo Tech.
Xu Jianping, a partner of Shanghai Changying Capital, was also one of the founders of Changfeng Financial Port.
"We not only think about investing outside, but also about bringing companies back to Putuo," Xu said. "NewMargin was the first company to settle in Changfeng, and their tax revenue for the first year was 105 million yuan, so it definitely has impact on the district."
The finance port creates opportunities and a place for communication between different capital funds.
"The success of Changfeng Finance Port was the result of all the support we got from the government and Putuo State-owned Assets Management Co," Xu said, "Putuo was not developing fast back then, but it acted in time and provided assistance throughout the process."
Recently, Putuo District is aiming to develop the Taopu area in the west, a less-developed place once crowded with factories. The 19,521-acre area has not been used efficiently and there are plans for a complete make-over.
The development will require massive efforts, time and money. Since Changfeng has successfully built a financial port, it is ready to "give back" by supporting Taopu, said Xu. Taopu's development will provide more economic opportunities and benefit all parties, he said.
(Chen Yufei contributes to the story.)
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