YuhuangShannanFund town of Hangzhou China, bears spectacular resemblances in location, natural environment, culture and industry to Greenwich, Connecticut, United States. Fund town is located in the center of the beautiful West Lake, Hangzhou, a UNESCO World Heritage site, creatively combining its age-long history, profound culture, excellent environment, booming finance industry as well as cultural creative industries, which is second to none in China.Sitting at the foot of Yuhuanghill in Hangzhou, the Fund Town offers more than just a beautiful landscape. Opened in May 2015, it aims to be an important platform for a private capital in China. With a great resemblance to shanghai, fund town of Hangzhou has a geographical advantage over shanghai, but no conflict of interest. The economic hub shanghai is mainly focusing on the public offers, while fund town Hangzhou, is emphasizing the private offers. In addition, Shanghai, Nanjing, Ningbo and south wing of Yangtze River Delta are within its 90 min- drive circle, offering it a huge financial development space. Fund Town has quite a promising future. At present, there are a total of 2,000 financial institutes in the Town; the assets under management of Fund Town have exceeded 1,000 billion Yuan, and over 330 billion Yuan of capital has been injected to the real economy. It has successfully supported and cultivated 98 companies to go public
According to the CCTV report; "The investment channel for private capital was very limited here. People mostly invested in the property market or even illegal private banks," said Miao Chengchao, Party Secretary, Shangcheng District Committee of CPC."On the other hand, many companies, especially startups are eager for money to develop. What we need is a professional medium to connect and balance the supply and demand for money."[L1] As private wealth management is a relatively new discipline in China, attracting more western-educated and experienced professionals is critical for the Town's future.In an effort to draw more people here, international schools and medical centres have been built, but most important of all, there's a financial eco-system in place. It seems the strategy is paying dividends."We can bring more professional investment strategies and a concept of risk management to these affluent people to make China's capital market more mature," said Dr. Charlie Wang, Chairman, MD Grand Investments LTD. "And we can also stimulate companies' development or transformation, through capital operations."Zhejiang Province has been renowned for its manufacturing industry for decades.However, it is now transitioning to a greener and more sustainable economy. Local authorities hope the Fund Town will be a powerful driver of this change. Zhou Linjin is running a company which provides a car parking service for shopping malls and other public spaces... A fund company invested in it in July of last, but it's providing more than just money. "Our market value has grown five times and reached 2.2 billion RMB in the five months since the capital injection.We spend the money on employing more talent and developing new technologies," he said.Parking has always been a major problem for Hangzhou, especially in the city center.But using big data technology, you can book a space in advance now. "We have abundant capital for investment, and the fund town has created a platform to find companies with great potential," said Sam Sheng, Managing Director."We hope that we can find more capital to upgrade these traditional industries, to both solve social problems and create economic benefit."With the strength of China's real economy, the abundance of private capital available, and an increasingly sophisticated investment climate here, many believe that Hangzhou's YuhuangShannan Fund Town can go a long way to realizing its ambitious targets.
On 28 September, 2017, www.zjol.com.cn organized foreigners from all over the world to visit the fund town Hangzhou. The visitors, in their interviews,said they were elated to experience the scenic, yet secluded fund town. They were awestruck by the breathtaking beauty of fund town and declared those who would be working there as “the luckiest people in the world”. Many members of the group weren’t aware of the town’s existence and extended heartfelt gratitude to www.zjol.com.cn for providing them with an opportunity to visit a place where reality matches the imagination. The state of the art international schools and medical center add to the social quality of the town. Top notch companies such as CNIC Corporation Limited and China Electronics have settled in the beautiful fund town. The interesting and unique cuisine museum, situated in fund town adds to the attraction of ssthe town for visiting foreigners. To sum it up, fund town offers a unique visiting experience, blended with the wondrous beauty of nature as well as the epitome of human social development. If one is in search of a place to escape the burden and stress of life, Fund Town is exactly where one should go.
作者系浙江大学国际教育学院博士留学生 Wakeel Abdul