The Beijing Economic Development Area (Beijing E-Town) completed the registration and establishment of the Industrial Upgrading Equity Investment Fund Phase II on Feb 10, marking an important step forward in the construction of the fund system.

This fund will further promote a virtuous cycle of "technology-industry-finance" and continue to empower the sustainable high-quality development of the region.

The Industrial Upgrading Equity Investment Fund Phase II has a total scale of 4.01 billion yuan ($550.13 million). It will be used to make equity investments in key industry projects within the E-Town.

The first phase of the Industrial Upgrading Fund was established with investments in 2023. As of now, it has invested 34.7 billion yuan in 24 projects.

The Phase II will continue to focus on enterprises in E-Town that align with its industrial positioning and relevant industry policies, including the four leading industries and six future industries. It will prioritize projects crucial to E-Town's economic development and industrial promotion, such as industrial chain enhancement, strengthening and supplementing the chain, and independent innovation.