Luohu district government and Shenzhen Investment Holdings jointly held a cooperation agreement signing ceremony on Jan. 9, marking the founding of a new equity investment fund.

The fund includes Luohu Investment Holdings, Shenzhen Investment Holdings, and 11 joint stock companies of Luohu, including Caiwuwei and Hubei.

With a total investment of 170 million yuan (US$25 million), the fund will serve as a platform to promote high-quality and diversified development for the 11 joint stock companies from Luohu, which account for 100 million yuan of the investment. 

The fund will focus on investing in strategic emerging industries to support technological innovation and industrial upgrading in Luohu. At the same time, the fund will carry out supporting fund cooperation initiatives.