CVCA Study Mission to Kunming

CVCA led a successful study mission to Kunming on May 6 to May 8, 2010, to honor an invitation by Liu Guangxi; the Deputy Mayor and Standing Committee Member of Kunming government. The delegation was headed by Mr. Yichen Zhang, the Chairman of the CVCA Board of Governors and Chief Executive Officer of CITIC Capital Holdings Limited.

While in Kunming, the delegation held engaging discussions with Mr. Qiu He, Kunming Party Secretary; Mr. Huang Yunbo and Mr. Liu Guangxi, deputy mayors in charge of the investing and financing; and other executive leaders of local government agencies including the Kunming Finance Office; the Development and Reform Commission; SASAC (State-owned Assets Supervision and Administration Commission); and the Bureau of Commerce, etc.  In addition, the delegation carried out a cooperation exchange with government guided fund executives and met with the high-tech and high-quality companies in Kunming.

Kunming was the first stop on CVCA's study mission project, which is to visit a variety of ‘hot regions' attracting capital flow. Delegation members consist of senior executives of CVCA member firms, mainly well-known foreign and domestic investing institutions. The delegation was received most cordially by the Kunming government and a great deal was achieved.

With care and concern to detail, the Kunming government ensured CVCA members achieve a full understanding of Kunming's investment environment and geographical advantages, as well as Kunming's huge investment potential. At the cooperation exchange conference held on May 7, representatives of selected local enterprises elaborated on their investment and financing project alternatives, and received pertinent comments from the institutional investors. Both sides had an engaging discussion and established strong ties for the future. Additionally, whilst visiting the Kunming High-tech Zone, local enterprises impressed the delegation with their technological and geographical advantages.

In short, this first study mission was a resounding success.  Delegation members were very interested in Kunming's investment environment and prospects, and plans are already underway to invest there; thereby contributing to Kunming's economic development. Frances Huang, the President of CVCA adds: "on behalf of CVCA member firms, CVCA will strengthen communication and cooperation with leaders of Kunming government agencies. At the same time, CVCA encourages our member firms' investment in Kunming, in order to support local economic construction and sustainable development. In the future, CVCA will initiate more similar 'study missions' in the future, guiding our members and the entire VC/PE community in their contributions to Greater China's regional economic development."