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Thirteen-year “Shenzhen Capital Group Model” joins hands with government
发布时间:2012-07-31

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Same as China Science & Merchants, the last thirteen years of development within Shenzhen Capital Group Co., Ltd. (SCGC) has carried a very strong "government" context. Aside from the Shenzhen State-Owned Assets Supervision and Administration Commission (SASAC) with its government-owned shareholders background, SCGC has formed a unique investment model through establishing government-guided funds, combined with the power of professional organizations, government resources, and private capital.
 
Currently, SCGC has successfully set up 47 government-guided funds at a total of 8.5 billion RMB and an average of nearly two million RMB per fund. It has been ranked first among foreign venture capital enterprises for four consecutive years.
 
“Government guidance funds means that the government puts in one yuan and I put in one yuan, while an organization puts in another yuan, all for collectively forming a fund that follows the structure of a company. That becomes a venture capital firm. It can be managed by myself, or mainly managed by SCGC. After I established government guidance funds, the government begins to recommend projects, so the source for potential investments has been solved,” said chairman of SCGC, Haitao Jin.
 
Haitao Jin also claimed that building such a network has several advantages: first, it solves the problem of fundraising; second, it broadens the channels of the project sources; third, it gives us a chance to interact with the government. These days, when companies take on projects, they have to face the whole country. Licensing permits, taxation, land usage, and many other problems are all invovled. Good relations with the government can easily provide optimized environments for services. The fourth advantage is the combination of incentives and constraints that help raise the company's earnings.
Guangdong Province provides a useful case study. On May 3, 2012, Guangdong Hongtu Venture Capital Co., Ltd. (Guangdong Hongtu Fund) announced that Guangdong Province’s first government-guided provincial-level venture capital fund was formally established. This fund is only the first of SCGC’s government-guided funds that has reached 10 billion RMB.
 
Analysts believe that the “official” tint which paints the background stablishment in 2002, and after 13 years of development, the company has invested more than 420 projects and its cumulative investment totals at 10.8 billion RMB. SCGC is China’s domestic venture capital investment institution with the largest amount of capital and strongest ability to invest. 
 
Reportedly, in 2009, SCGC only had 40-50 employees. Now, the size of its team is around 200 people. Its asset management scale has also rapidly expanded to 20 billion RMB. Also, according to the central group’s statistics, SCGC has established upwards of 63 investment funds. So far, SCGC has has been the first to set up and manage a large number of government guidance funds in Beijing, Shanghai, Tianjin, Chongqing, Jiangsu, Zhejiang, Guangdong, and other major cities—almost as if weaving a network throughout the country, one project at a time.