Guangdong has launched a new industrial development fund worth 50 billion yuan to foster new growth drivers. During the signing ceremony for the establishment of the Guangdong Provincial Industrial Development Fund and its cooperation agreements held on the 22nd, representatives from 12 financial institutions, leading industry companies, and investment partners finalized the first round of projects. These initiatives have already led to the creation of the world's largest semiconductor display industry park in the region.
This fund is designed to provide strong support for driving industrial restructuring and upgrading across Guangdong. As a policy-driven venture capital fund, it aligns with the provincial government’s strategic priorities to boost industrial development. This initiative reflects the province's commitment to implementing the spirit of the 19th Party Congress, deepening innovation in industrial financing, accelerating industrial transformation, optimizing economic structures, and nurturing new growth engines.
Tu Gaokun, director of the Provincial Economic and Credit Commission, emphasized that the fund aims to accelerate industrial upgrades, promote structural optimization, and revitalize the real economy. It will guide and stimulate more social capital to focus on service sector development, supporting the construction of a modern economic system in Guangdong. The goal is to build stronger industries and help adjust the eastern economic structure while advancing industrial transformation.
The fund was formed by integrating several existing funds, including the Guangdong Pearl Riverfront Advanced Equipment Manufacturing Industry Development Fund, the Guangdong 21st Century Maritime Silk Road Fund, the Guangdong Medium and Small Enterprise Development Fund, and the IC Industry Development Fund. With a total size of 50 billion yuan, 10 billion yuan comes from the government, while the rest is expected to be raised from financial institutions, industrial investors, and local funds. Major banks such as ICBC, Ping An Bank, CCB, and Bank of China have already committed capital, with many other industry players showing interest in participating.
The fund will target areas aligned with Guangdong’s industrial transformation goals, including 4K TV, 5G communications, smart manufacturing, investments along the “Belt and Road,†state-owned enterprise reforms, military-civilian integration, and foreign investment. These efforts aim to strengthen Guangdong’s position as a manufacturing powerhouse and build new competitive advantages.
A key feature of the fund is its “distribution first, return later†approach, which emphasizes fiscal benefits. When the fund exits an investment, the government’s portion will receive at least a 50% return, ensuring a fair distribution of profits among investors.
One of the first major projects is the China Star Optoelectronics initiative by TCL Group, which aims to establish the world’s largest semiconductor display industry park. The fund will participate in this project, helping to develop the full supply chain in the display industry and boosting the sector’s growth in Guangdong.
Additionally, the fund has reserved key projects like giant wheel robots and the Yangjiang Wind Farm, and plans to collaborate with investment firms such as Shenzhen Innovation Investment Co., Ltd. on mergers and acquisitions in advanced manufacturing sectors.
According to Yuecai Holding, the fund manager, the team will follow a structured approach—reserving projects, making adjustments, negotiating, and finalizing one by one—to ensure timely project execution and rapid realization of the first investments.
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