On Feb 9th, Mr. HUI Xiaobing, Senior Advisor of Plateau Holdings and Chairan of China Society for the promotion of Science and Technology commercialization, Ms. DONG Yi, Partner of Plateau, Mr. LIU Jin, President of ICBC JiangSu Branch, visited H.E. CHEN Zhenyu, Vice Governor of JiangSu Province and reported on Plateau and ICBC’s joint effort in setting up a FOF on mixed-ownership reform.
Plateau-ICBC Equity Investment FOF will be jointly established by Plateau and ICBC Jiangsu Branch, with the first phase a size of 5 billion Yuan, and the follow up scale reaching 20-30 billion Yuan. Based on the successful experiences Plateau accumulated on mixed ownership reform of State owned enterprises, the FOF will focus on mixed ownership reform of SOEs and advanced manufacturing industry in Jiangsu. The FOF will participate in M&A projects at home and abroad as well as base of scientific research in the form of equity investment.
Plateau and ICBC also reported on matters concerning ICBC setting up an asset management company and a base of scientific research in Jiangsu.
Vice Governor CHEN spoke highly of the work of Plateau and ICBC and said, the mixed-ownership-focused FOF fits the actual situation of Jiangsu province and will turn out to be a major force for the mixed ownership reform of SOEs in Jiangsu. The FOF will make great accomplishments and the government will spare no efforts in supporting FOF with favorable policies and sound external environment. The government will also actively support setting up an asset management company and a base of scientific research in Jiangsu.