On November 19, the Xiamen Municipal People's Government signed a strategic cooperation agreement with China International Capital Corporation (CICC) to establish the second-phase CICC Qiyuan (Xiamen) Sci-Tech Innovation Fund of Funds. This initiative aims to deepen the integration of technological and industrial innovation. CICC has a long-standing relationship with Xiamen, contributing to the city's fund and sci-tech industry growth. The establishment of this fund is a key step in supporting advanced technological innovation and driving the development of new productive forces. Leveraging its expertise, CICC will channel patient capital from diverse sources to fuel Xiamen's technological innovation and high-quality economic development. The fund has completed its first closing and plans to invest in strategic emerging industries such as information technology, advanced equipment manufacturing, new materials, new energy, and modern services. Xiamen has facilitated preliminary cooperation intentions between 39 key enterprises and 54 investment institutions.
