Investment funds set to flourish in Anhui

Grand Union of Innovation – located in Hefei city in East China's Anhui province – plans to build a "fund forest," with the amount of funds under management totaling more than 200 billion yuan ($27.53 billion).

Plans are for it to cover the whole life cycle of a slew of projects, supporting the development of the area's strategic and key industries.

The Anhui provincial government and the Hefei municipal government have taken the lead in setting up a venture and seed fund of more than 30 billion yuan ($4.1 billion), with a registered scale of 1.5 billion yuan in the first phase.