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SMG strengthens cooperation with Dalian

On Oct. 19th, Dalian city Deputy Mayor Xiao Shengfeng met with Mr. Simon Murray, President of Simon Murray Group (“SMG”); Director of Dalian Huayuankou Economic Zone Management Committee, Dong Chengfa, also attended the meeting.

Xiao Shengfeng said, Dalian’s development is currently guided by investment, and the city government is actively encouraging and promoting the development of the PE industry, with plans to implement the “1+10+N” equity investment development plan.  This means setting up one government guidance fund (of RMB three billion) to guide more than 10 industry investment funds (of RMB 50 billion each) to drive an estimated additional investment of RMB 50 billion by more than 100 P/E, VC, and equity investment companies.  The city government shall also issue policies and measures to support these Dalian-based investment companies.

Xiao Shengfeng pointed out that the Huayuankou Economic Zone is the primary focus area in the development of Liaoning’s coastal region, and welcomed SMG to invest here, promising full government support and cooperation.

Mr. Simon Murray pointed out Dalian is world renown and internationally competitive; given the common development values between Dalian and SMC, he hopes to increase cooperation with this city.  According to sources, SMG’s total AUM exceeds one billion USD.  SMG set up its first RMB fund in Wuxi in 2009 – Wuxi SMC Guolian Ventures Enterprise.  The purpose of SMG’s visit to Huayuankou was to discuss the setting up of a Dalian SMC Fund; the size of this joint venture fund will be RMB 600 million, and its primary investment focus shall be Dalian’s environmental protection and energy saving enterprises.

SOURCE. Dalian Daily
UPDATE. 2010-10-21
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