JD Capital and New Hope Group Participated in the Foundation and Funding of Sichuan Tourism Industri
Guided by the Department of Finance and the Tourism Administration of Sichuan Province, the Sichuan Provincial Finance, JD Capital and New Hope Group Co., Ltd. (short for the “New Hope Group”) jointly founded the Sichuan Tourism Industrial Innovation and Development Equity Investment Fund (short for the “Sichuan Tourism Industrial Fund”).
The Fund, as one of the first-batch provincial leading funds for industrial development in Sichuan, was formally inaugurated recently. In the future, by means of joint stock, investment holding, M&A and asset securitization, the Fund shall focus on the development of key tourist attractions, and the extended development of new tourism models and the full tourism value chain in and outside of Sichuan. The Fund shall mainly invest in the upgrading, renovation and improvement of existing tourist attractions, M&A and integration of specialized tourism assets, private placement and M&A of listed tourism companies, excellent high-growth enterprises in the fields of new tourism models and derivative industries of tourism and tourism PPP projects.
Boost the transformation and upgrading of regional tourism
Sichuan is a province with abundant tourism resources in China, and its tourism industry has witnessed rapid development for consecutive years. According to statistical data, in 2015, the gross revenue of the tourism industry in Sichuan reached 621.05 billion yuan, a year-on-year growth of 27%. In 2016, Sichuan will continue to implement the “Double 100 Billion” project in the field of tourism investment and financing to ensure that both the contract amount and actual investment reach 100 billion yuan.
As one of the fund managers, JD Capital will bring its abundant experiences and capabilities in industrial investment into full play, and realize scientific fund management and efficient operation in line with the market mechanism. Meanwhile, JD Capital shall also take advantage of its abundant financial and industrial resources to boost the development of regional tourism, as well as its transformation and upgrading, with a view to building the core competitiveness and letting sector bellwethers lead the industrial upgrading.