Core Viewpoint - The article highlights the recent developments in China's mother fund industry, with a total management scale of 759.85 billion yuan, focusing on investments in new materials, biomedicine, and green low-carbon sectors [2]. Summary by Sections Hainan - Sanya City is establishing a 10 billion yuan mother fund to leverage state-owned capital for upgrading tourism and developing high-tech industries, with a focus on modern services and agriculture [4][5]. Anhui - The Anhui Insurance Fund has been established with a total scale of 100 billion yuan, attracting 80 billion yuan from China Life Insurance [6]. Guangdong - Guangzhou Angel Fund plans to invest in eight GP institutions, with a cumulative planned cooperation of 39 institutions and a total fund scale of 106.85 billion yuan [7][8]. Sichuan - The Sichuan Higher Education Technology Achievement Transformation Fund aims to promote technology transfer from universities, with a total scale of 100 billion yuan [9][10]. Jiangsu - Suzhou Angel Investment Guidance Fund is set to invest in two GPs, while Jiangsu Yancheng Green Low-Carbon Industry Special Fund is also seeking GPs [11][21]. Zhejiang - The Zhejiang Zhanxing Industry Relay Fund has been established with a target scale of 50 billion yuan, marking a significant step in improving the multi-level capital market [13]. Fujian - The Zhangzhou Yunxiao Shengcheng Industry Investment Mother Fund has completed its registration with a scale of 300 million yuan [16]. Hubei - The Hubei Xianning High-tech Industry Regional Mother Fund has been officially established with a total scale of 300 million yuan, aiming to attract social capital [17][18]. Jiangxi - The Gan-Shen Industry Mother Fund is being set up with a target scale of 500 million yuan, focusing on electronic information and new materials [19][20]. Hunan - The Xiangxi Jin Fuyuan Industry Development Guidance Mother Fund has been launched with a total scale of 1 billion yuan, focusing on ecological tourism and new energy [22][23]. Other Regions - Two mother funds in Changzhou, Jiangsu, are being established with scales of 50 billion yuan and 30 billion yuan, focusing on new energy and advanced materials [24][25]. - The Shaoxing Guoding Multi-Strategy Equity Investment Fund has successfully completed registration with a target scale of 1 billion yuan [26][27]. - The Yangchun City Government Investment Fund Management Measures have been published to guide investment in new industrial systems [28][29].

Core Viewpoint - The establishment of the Zhejiang Zhanxing Industrial Relay Fund marks a significant development in the regional equity market, aiming to create a virtuous cycle of capital relay and industrial upgrading, thereby supporting the new quality productivity ecosystem [1] Group 1: Fund Establishment - The Zhejiang Zhanxing Industrial Relay Fund has been officially established with a target scale of 5 billion yuan for the first phase and an overall goal of 50 billion yuan [1] - The fund is initiated by the Zhejiang Provincial Innovation Investment Group and the Zhejiang Stock Group, with participation from the Shangcheng District [1] Group 2: Investment Structure - The fund is co-financed by provincial, municipal, and county-level state-owned assets as well as listed companies, with Shangcheng Capital Group contributing 15% [1] - The investment strategy includes a matrix of fund products such as mother funds, specialized funds, merger funds, and S funds, enhancing the overall investment capability [1] Group 3: Market Impact - The S fund will provide diversified market exit channels for industrial funds and social capital, facilitating a good ecological environment for fundraising, investment, management, and exit [1] - It is expected to drive share transfer transactions exceeding 5 billion yuan, contributing to the development of emerging industries in the region [1]