CSSC Electronics Technology Gets Approve of Establishment of Hunan Qianrui Aviation Industry Venture Investment Fund
2015-03-04



The Application of establishment of Hunan Qianrui Aviation Industry Venture Investment Fund by CSSC Electronics Technology Co., Ltd. was recently formally approved by the National Development and Reform Commission and the Ministry of Finance. The fund was to be used in the development of related main business of CSSC Electronics Technology and Haifeng General Aviation Technology Co., Ltd. so as to promote the leapfrog development of general aviation business and information & control business of CSSC.
According to the related rules of the Interim Measures of Emerging Industry Venture Investment Plan Equity Venture Capital Fund Management, since January of 2014, CSSC Electronics Technology and other 4 partners launched to establish Hunan Qianrui Aviation Industry Investment Management Co., Ltd. as the fund management company in order to raise funds and carry the fund application work to the local and center government related departments. The total fund volume finally approved reaches to 263 million Yuan, of which the state and Hunan local government respectively matching funds of 50 million Yuan and the fund period is 7 to 10 years.



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