China Bridge to help 'unicorns' flourish in Zhuhai

The Zhuhai Municipal Government and Beijing China Bridge Capital Investment Management have agreed to incubate and attract more promising new enterprises to the city.

The goal is to make Zhuhai a headquarters base and habitat of global cutting-edging "unicorn" industries. A "unicorn" startup is less than 10 years old, valued at more than $1 billion, invested with private equity, and not yet listed.

Meanwhile, China Bridge Capital is an independent investment bank with international experience in consulting, banking, fund management, research, government, and Industries. Over the years it has developed strong relationships with both the central government and local municipalities. 

The city will work with China Bridge to spearhead the Guangdong-Hong Kong-Macao Greater Bay Area in cutting-edge industries, with a complete finance-tied "industrial park-industry-capital-enterprise" chain led by both listed companies and unicorn enterprises.

Zhuhai Yinlong Energy, China Unicorn Company in 2016 [Photo courtesy zhyle.com]

The signing took place on March 26. It saw potential domestic and foreign unicorns promoting projects in artificial intelligence, e-commerce, internet finance, and unmanned aerial vehicles (UAV). Among them were TWC Group, SuperD, envestBANK, The One Media Group, Ewatt Technology, Pay Egis, and Century Heguang Technology Development (Beijing).

Furthermore, China Bridge Capital, Huafa Group, and Zhuhai Development & Investment Fund Management launched an Investment Fund for Unicorns in Vanguard Industries at the event. They signed a cooperative agreement with two investment organizations and the potential unicorns to help them flourish in Zhuhai.

City Party secretary Guo Yonghang pointed out that Zhuhai's ecological and economic environment has been consistently improved over the past 40 years. City policies have been constantly optimized, while other elements have been made more comprehensive. The urban development pattern has also become clear, priming the city for development, he said.

Zhuhai also faces a golden opportunity with creation of the Greater Bay Area and opening of the Hong Kong-Zhuhai-Macao Bridge, said Guo. On behalf of the city municipal Party committee and government, he pledged to provide an optimized development environment and all-round services for the unicorn companies. 

Others at the signing ceremony included Mayor Yao Yisheng; Vice Mayor Lu Xiaofeng; and Wu Shi, secretary-general of the CPC Zhuhai Municipal Committee.