The Zhuhai Development & Investment Fund was rated 10th on the 2018 list of the Top 30 China's Best Government Guidance Funds released by China's earliest and largest equity investment research institution -- Zero2IPO Research -- on July 11.

Founded in August 2017, the Zhuhai Fund had an initial scale of 10 billion yuan ($1.5 billion). It has grown in influence relying upon the resources of Huajin Capital, Zhuhai Technology Venture Investment, Gree Financial Investment Management, and Hengqin Financial Investment.

Meanwhile, it cooperates closely with domestically leading institutions such as IDG Capital, SDIC Unity Capital, and HighLight Capital to launch or engage in sub-funds through joint management, attracting high-quality industrial projects to Zhuhai.

Zhuhai Development & Investment Fund inaugurated in 2017 [File photo courtesy Zhuhai Daily]

Its Gongzhi, Nongzhi, and Hegang infrastructure sub-funds have provided financial support for road and key industrial park construction in the city.

Furthermore, the Zhuhai Development & Investment Fund has invested more than 2 billion yuan ($291 million) in Yunzhou-Tech, Ninestar Corp, Zhuhai Cosmx, and 11 other local enterprises. Eight companies from such emerging industries as medicine and health, big data, and consumption upgrades were attracted to settle in Zhuhai.

As of late 2018, there were 1,600 nationwide government guidance funds in the country, representing a combined scale of nearly 10 trillion yuan ($1.5 trillion). Zhuhai is the only prefecture-level city to make it into the top 10; the other nine being from Shenzhen, Shandong, Jiangsu, Hubei, Tianjin, Hangzhou, Zhejiang, and Anhui.

According to insiders, Chinese government guidance funds got off ground in 2002 with the major impact concentrated in developed provinces, municipalities, and capital cities. The entry of Zhuhai into the top 10 is considered high affirmation of its government-guided market-oriented style of operation.