On July 12, the first FOF in China focused on investing in secondary shares of venture capital funds (S Funds) completed its registration. This fund, known as the FTZ Navigator S Fund (referred to as the "S Fund"), will next be filed with the Asset Management Association of China. The S Fund has a target size of 2 billion yuan, with an initial phase of 500 million yuan, co-funded by the Xiamen FTZ Administrative Committee and Xiamen Venture Capital. On the same day, the FTZ Navigator Listed Company CVC FOF, the first of its kind in China, was also launched. It has a target size of 10 billion yuan, with an initial phase of 1 billion yuan. Both funds will invest in sub-funds centered around Xiamen's "4+4+6" modern industrial system, focusing on key sectors in the FTZ such as aviation services, cross-border e-commerce, shipping logistics, international trade, and integrated circuits.
