Since the beginning of 2020, the economic development has been affected by the new crown epidemic. Under the epidemic situation, a company has worked closely around the center of the grassroots government and relied on the platform of the financial town to embark on a unique road of comprehensive development of industrial finance serving the development of the real economy.
On January 22, 2020, Beijing Tongde Town Operation and Management Company (hereinafter referred to as Tongde Town Company) and the People's Government of Zhangqiu District, Jinan, Shandong Province signed a cooperation agreement to jointly build Quancheng Science and Technology Finance Town. Over the past four years, Tongde Town Company has obeyed and served the overall situation of local economic development, worked hard to overcome the impact of the epidemic, used the professional knowledge of the capital market and rich financial resources to realize the rapid replication of the Tongde Financial Town model, and successfully created a 2.0 version of the financial (fund) town, which has called the brand of a comprehensive developer of industrial finance. By the end of March 2024, the cumulative planned construction area of 7 financial towns is 2,360 acres, and the properties under management are 100,000 square meters; A total of 54 fund manager companies have been introduced, 742 fund products have been introduced, and the fund management scale has reached 150.039 billion yuan, and a total of 589 investment projects have been invested, with an investment amount of 27.163 billion yuan, of which 30 have been listed after investment and 59 have been reported to the China Securities Regulatory Bureau for guidance and filing after investment. The cumulative tax payment is 2.5 billion yuan.
What kind of company is Tongde Town, and why do they make such a performance? With these questions, on the eve of July 1st, we had a conversation with Mr. Zhang Qiang, chairman of Tongde Town Company.
"My Capital Dream"
Beijing Financial Street, the management center of China's finance. In the office opposite the Beijing Stock Exchange, we met Zhang Qiang, chairman of Tongde Town. "I just came back from a business trip, and I went to Chongqing, Chengdu and Xi'an in four days, and we submitted the planning plan of Tongde Town to more than 20 cities across the country. We explained our intentions, and Chairman Zhang Qiang said straight to the point: "I am an old North Drifter, and I came to Beijing at the age of 42 for the feeling of a little capital. ”
Through the exchange, we learned that Chairman Zhang Qiang has a lot of experience. In 1996, he graduated from Shandong University of Finance and Economics majoring in national economic planning and was assigned to the Dezhou State Taxation Bureau. He successively served as the deputy director of the office of the Dezhou Municipal State Taxation Bureau and the director of the Dezhou Linyi County State Taxation Bureau, during which he had three years of secondment experience in the Shandong Provincial State Taxation Bureau and the State Administration of Taxation. At the age of 34, he was elected as the deputy county magistrate of the Linyi County Government through the public examination, and was later transferred to the deputy director of the Dezhou City Financial Office. In 2009, he was appointed as the Deputy Director General of Tianjin Binhai New Area Investment Promotion Bureau. In accordance with the requirements of Shandong Province's financial reform, in 2013 and 2014, he served as the deputy director of the China Securities Regulatory Commission. At the age of 42, his work experience covered counties, cities, provinces, municipalities directly under the central government and central ministries and commissions. "I have worked in the grassroots government departments for a long time, done taxation, been in charge of finance, finance, key projects, investment promotion and other front-line economic work, and have done some innovative financial practices in the local market and grounding, which can be regarded as understanding what the grassroots think. I resigned in 2016 and was honored to be able to change tracks and continue to serve the party committee and government. As a veteran party member with more than 20 years of party experience, I have resigned for more than 8 years, and I would like to thank the organizations at all levels, which have taught me to be a person and do things, and to have a basic world view and methodology. This gratitude comes from the heart. "We learned that after Chairman Zhang Qiang joined the work, he studied for a master's degree in economics (finance) from Shandong University and a doctorate from the Institute of Finance of the Chinese Academy of Social Sciences. He is also a visiting professor at Peking University Business School, a distinguished lecturer of Tsinghua University's President Class, and a distinguished expert of Beijing Equity Exchange. Chairman Zhang Qiang has published more than 800,000 words in provincial journals and above since joining the work, and has won the Shandong Provincial Excellent Research and Scientific Research Achievement Award three times. During his temporary tenure, the "Research Report on Grassroots Financial Innovation" written by him was also published in the "Research Report" of the China Securities Regulatory Commission. At present, he serves as an economic advisor and financial advisor to many governments, and is a leading talent for listed companies on the Shanghai Stock Exchange. After his resignation, Chairman Zhang obtained the qualifications for securities and fund business, and the qualifications for secretary of the board of directors and independent director of listed companies. Chairman Zhang Qiang is the founder, chief designer and organizer of two China Linyi Investment and Financing Fairs, five China Dezhou Capital Transactions Conference and China Beijing Capital Transactions Conference.
We learned that as early as 2007, Chairman Zhang Qiang went to Linyi, Dezhou, Shandong Province as a deputy county magistrate, and was in charge of the county's finance, taxation, finance and economic work at that time. Compared to Beijing, there is almost no finance there. In order to solve the problem of economic development of enterprises in the county, Chairman Zhang Qiang planned and organized two sessions of the county capital market development forum and investment and financing fair, and invited financial investment institutions from Beijing, Shanghai, Guangzhou and Shenzhen to Linyi County, which is most lacking in finance, to negotiate with local enterprises, with the aim of broadening the financing channels of enterprises and promoting the healthy development of the county economy. The two sessions produced good results, with more than 200 financial institutions in Beijing participating. In 2010, the county added 890 million yuan of new credit and 4 billion yuan of multi-channel financing.
In June 2011, he was transferred to the Dezhou Municipal Finance Office as the deputy director, participating in the preparation of the financial office, and another task was to replicate the good model of the investment and financing fair and hold the Dezhou Capital Trading Conference. As the designer, organizer and practitioner of the conference, he has worked for five sessions, of which the fourth and fifth conferences also welcomed the participation of the Securities Association of China, the China Banking Association and the Insurance Association. The maximum number of investment institutions participating in the meeting reached 1,200, and the number of participants was 6,000. The Dezhou Capital Exchange Conference is written into the "Outline of the 13th Five-Year Plan for the National Economic and Social Development of Shandong Province" issued by the Shandong Provincial Government, and is the only professional financial exhibition that has been included in the 13th Five-Year Plan of the province. The Fifth Texas Capital Trading Conference has played an important role in promoting the construction of the local capital market and broadening financing channels. As the 10th largest city in Shandong Province in terms of economic volume, Dezhou has cultivated and developed 8 A-share listed companies in recent years, leading the province. In 2015, Dezhou added 16 billion yuan of bank credit and 30.3 billion yuan of other multi-channel financing, realizing multi-variety, multi-channel and diversified financing. It can be said that the Capital Exchange Conference has enhanced the attractiveness of Texas to domestic and foreign capital institutions, and it is the enterprises in Texas and surrounding areas that have directly benefited.
With the deepening of the exchange, we deeply feel that Chairman Zhang Qiang is a financial theorist and practitioner who has grown up at the grassroots level. He has extensive financial contacts, solid theoretical foundation, familiar with national policies, and rich practical experience. The theories he advocated under the leadership of the government, such as financial innovation, financial resource construction, regional investment promotion, integration and innovation of science and technology and finance, listing of enterprises, building investment and financing platforms, and broadening financing channels, have blossomed and borne fruit at the grassroots level. It has successively led and promoted the listing of nearly 100 enterprises, the listing of the New Third Board and regional markets, mergers and acquisitions, private equity investment and financing, and docked and practiced tens of billions of yuan in government and enterprise investment and financing, and achieved outstanding results.
The Central Financial Work Conference held in 2023 put forward the concept of "financial power" for the first time. As the core of the modern economy and the bloodline of economic development, finance has been elevated to a new level of national strategy. "Over the years, we have been thinking about what we can do for the development of the grassroots economy around the strategy of financial power, based on the needs of the central work of local party committees and governments, the needs of the development of grassroots entities, and the advantages of our own resources. That's our mission. As a result, there is the business model of Tongde Financial Town, and there is a new practice for us to explore the path of financial supply-side reform."
Chairman Zhang Qiang elaborated on the background of the establishment of Tongde Financial Town:
(1) The information asymmetry caused by the high concentration of financial resources on the mainland has to a large extent formed a situation of "two more and two dilemmas". As we all know, there is a dilemma in the field of investment and financing on the mainland: First, the scale of the real economy is large, and there are many enterprises and high-quality projects, but financing is difficult and expensive. Second, there is a lot of capital, but it is difficult for institutions to find high-quality projects, and the transaction efficiency of capital is very low, and the transaction cost is very high. These two items, the enterprise side feels that it is a capital winter, and the capital side feels that it is an asset shortage, and it is difficult at both ends. "We tall investment bankers in Beijing, wearing suits and leather shoes every day, fly around the country, and we can't negotiate a project in half a year. The core of the contradiction is that there is a serious information asymmetry in China's financial market, and financial resources are highly concentrated in Beijing, Shanghai and Shenzhen, while a large number of high-quality projects are located at the local and grassroots levels, and there is a lack of effective bridges and links between the supply side and the demand side of funds. Therefore, there is no shortage of finance in Beijing, and there is the most shortage of finance at the grassroots level, or in some places, there is almost no finance, only the real economy. This is a norm, which is called resource imbalance and information asymmetry."
(2) Monetary and financial instruments are defective, and capital finance is innovating and developing, changing with each passing day. Capital is the most active element of productive forces and the lifeblood of economic development. With the continuous advancement of national financial innovation, new forms of financial capital are changing and emerging with each passing day, and have increasingly become an important force in the allocation of social resources. We can divide finance into monetary finance and capital finance. We define money and finance as the traditional credit market. At present, grassroots enterprises and the government mainly rely on bank credit for financing, and the channels are narrow. However, monetary and financial or traditional credit markets have little policy flexibility and low risk tolerance. Bank lending depends on cash flow and profits, and the requirements for the financial indicators of enterprises are very high, and they also require collateral and guarantee counter-guarantees. However, the innovation of capital finance in a wide range of fields is very active, and new financial instruments such as listed financing, equity, bonds, bills, leasing, trusts, funds, insurance, and futures have emerged one after another. These formats have created conditions for enterprises to implement multi-channel financing, but almost all of these formats are concentrated in a few large cities. At present, in addition to the listing and financing of enterprises, non-bank financial investment institutions, such as industrial funds, equity funds, venture capital funds, financial leasing companies, insurance, asset management companies, trust companies, finance companies and other forms of capital, are increasingly becoming an important means of optimizing the allocation of resources in the national economy. In order to solve the current dilemma of difficult and expensive financing for enterprises, it is necessary to start from the docking with the above various capital formats, comprehensively use financial instruments such as equity private placement, venture capital, bonds, trust funds, bills, financial leasing, insurance funds, etc., broaden financing channels, and vigorously promote multi-channel financing. However, at present, the grassroots have insufficient capacity to use multi-channel financing tools, and the resources at their disposal are limited, which cannot meet the demand for funds.
(3) The vigorous development of the private equity industry has promoted the rapid growth of real enterprises. At present, the overall strength of the fund industry is growing, the business model and business rules are gradually maturing, and the industry development policies are gradually improving. The fund industry has increasingly become an important force for the state to allocate resources and promote the development of enterprises. At the same time, with the transformation and upgrading of the national industrial structure and the development and growth of local private capital, grassroots enterprises are in urgent need of capital "oxygen supply and blood transfusion", and private capital urgently needs to find investment channels. Chairman Zhang is very sensitive to numbers. He said that by the end of 2023, the Asset Management Association of China has registered 21,948 private equity fund managers, 152961 private equity funds have been recorded, and the scale of funds under management is 20.82 trillion yuan, and the number of registered private equity fund managers is concentrated in Shanghai, Beijing, Shenzhen, Zhejiang Province (except Ningbo), Guangdong Province (except Shenzhen) and Jiangsu Province, accounting for 72.15% in total. In addition, the development of the private equity industry in most other regions is relatively lagging behind, and its role in promoting and supporting the real economy is weak. At present, the scale of private equity funds in mainland China is already the second largest in the world, which has played a huge role in promoting the real economy.
Based on the above three considerations, in recent years, Tongde Capital Group has closely focused on the strategic requirements of financial power, the requirements of local economic development, and in accordance with the principle of law, regulation and market, taking the development of the real economy as its own responsibility, and striving to give full play to the functional role of finance, promote the growth of grassroots enterprises, and serve the needs of grassroots economic development. "The purpose of our construction of the financial town is to serve the needs of the financial supply-side reform, guide the capital flow of financially developed cities to the grassroots real economy, cultivate and expand the grassroots capital finance, complement each other with monetary and financial means, and use market-oriented means to promote industrial transformation and upgrading, and then create a modern financial industry that serves the development of the grassroots real economy. This is the inevitable choice to build a financial power, and it is also the original vision of Tongde Capital Group to set up a series of financial towns in various places. "Tongde Capital Group and Chairman Zhang are with a sense of responsibility and feelings, closely around the local party committee, government center work, relying on the financial town, to build a large platform for investment and financing, and strive to build a comprehensive developer of industrial finance, closely cooperate with fund institutions and multi-format strategic institutions, introduce and cultivate modern financial industry, invest and serve the real industry, integrate industry and finance, industry and city, and strive to make their own contributions to the development of the grassroots economy.
The business model of Tongde Financial Town
Chairman Zhang Qiang said: "Tongde Financial Town is a one-stop private equity fund management center and industrial financial innovation center integrating fund aggregation, incubation, investment and financing and other functions under the environment of grasping the development law of the fund industry and local economic development planning." With the core functions of introducing fund companies, building fund products, fund incubation and fund innovation, the financial town supports auxiliary formats such as science and technology innovation center, headquarters office, city living room, financial education, business center, etc., gives full play to the agglomeration effect of the financial (fund) industry, directly opens up the link between capital and enterprises, closely connects with the real economy, effectively supports regional economic restructuring and industrial transformation and upgrading, accelerates the growth of enterprises, and builds a large investment and financing platform based on one place and serving one province. Create an influential local fund industry agglomeration area and a new highland for industrial finance.
(1) Business planning
"The Financial Town is a top-notch urban renewal project. We generally choose the property of a local government state-owned company industrial park, and build a financial town after renovation and transformation, with an area of 1,000-2,000 square meters." The main formats introduced are: the Ministry of Science and Technology China Entrepreneurship and Entrepreneurship Competition Science and Technology Achievement Transformation Center, the National Securities and Futures Investor Education Base Provincial Center, Shanghai Stock Exchange, Shenzhen Stock Exchange, Beijing Stock Exchange Provincial Capital Market Service Base, Financial Service Center, Fund Innovation Center, Financial Leasing Center, Financial Data Center, Blockchain Center, Futures Center, Science and Technology Innovation Space, Roadshow Center, Private Equity Workshop, ABP, Brand Hotel, Talent Apartment, Town Library, Financial Art Center, Small Town Workers' Home, Financial Talent Center, Financial Entrepreneur Club, Health Service Center, Organizing Committee of China Listed Company Innovation and Development Summit Forum, Listed Company Innovation Base (Joint Incubator), Financial Education, Science and Technology Innovation Center, Blockchain Center, Applied Finance Research Institute and corresponding supporting businesses, etc.
(2) Core function: financial agglomeration
The first is to introduce fund companies. The financial town will take advantage of the advantages of policy, location, service and resources, and attract mature private securities investment funds, private equity investment funds, private equity FOF funds, M&A funds, real estate funds, industrial funds, infrastructure funds, government guidance funds, venture capital funds, and venture capital funds from first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen through the resources of more than 4,000 fund institutions accumulated by Tongde Capital Group over the years and the cooperation resources of industry associations, law firms, clubs and other institutions. Angel funds and other mature fund manager companies have settled in the financial town. Increase the introduction of central enterprises and state-owned funds, support relevant policies, expand the scale of funds, and enhance the influence of small towns.
The second is to set up fund products. Through the resource aggregation advantages of the financial town's policies, talents, capital and other aspects, we help mature fund management companies register new fund products and file them, and provide corresponding services. We will build targeted fund products that are in line with the actual situation of regional development, promote the continuous optimization of capital allocation efficiency, and promote the improvement of the industrial ecological chain to the greatest extent.
The third is fund incubation. Set up a special service department to introduce managers and investors of new funds to the financial town in a province, and incubate local fund companies and fund products through professional one-stop services in the whole process of industry and commerce, taxation, filing, human resources, legal affairs, finance, custody, etc.
Fourth, fund innovation. A series of financial forums will be held, and key domestic financial institutions will be invited to help the government innovate financially, solve the financing difficulties of enterprises, and build a large permanent investment and financing docking platform in a province that serves the real economy and financial capital. It has cooperated with domestic and foreign research institutions, well-known universities, enterprise think tanks and other institutions to establish the Institute of Applied Finance, and has established permanent exchange mechanisms such as fund seminars, financial innovation salons, and industrial finance forums.
(3) Auxiliary functions: under the premise of financial agglomeration, the development of related business formats will be driven
According to the characteristics of different industries in various places, it is planned to build auxiliary formats such as science and technology innovation centers, financial education, headquarters offices, urban living rooms, business centers, cultural tourism, leisure and residence according to local conditions.
1. Science and Technology Innovation Center. Relying on the China Innovation and Entrepreneurship Foundation of the Ministry of Science and Technology, we will develop the science and technology innovation industry and hold a double innovation competition. Optimize the environment for innovation and entrepreneurship through the implementation of relevant talent incentives, fiscal, tax and financial support policies; Introduce Zhongguancun Chuangye Street Garage Coffee, Financial Guest Coffee, etc., and set up an entrepreneurship college; Attract and undertake the landing of national key institutes and key enterprise technology centers and innovation centers; Relying on colleges and universities in Chengdu, establish a demonstration platform for college students to start their own businesses; build a demonstration park for overseas talents in the provincial capital; The cooperation with the Entrepreneurship and Entrepreneurship Parks in the first-tier cities of Beijing, Shanghai, Shenzhen and Guangzhou will attract the landing of the incubated enterprises in the above-mentioned parks, build a center for the transformation of scientific and technological achievements, and build the financial town into the most dazzling star plate of science and technology innovation in one place.
2. Financial education. Cooperate with colleges and universities to establish the Institute of Applied Finance, provide financial think tank services for the regional economic development of a province, provide training combining theory and practice for students of financial colleges and universities in the province and personnel of financial institutions, and cultivate outstanding financial talents; Cooperate with the Shanghai Stock Exchange, Shenzhen Stock Exchange and Beijing Stock Exchange to set up a capital market service base to help local enterprises enter the capital market and help enterprises solve capital problems; In cooperation with the management unit of the China Securities Regulatory Commission, a national securities and futures investor education base has been established to popularize financial risk knowledge, introduce financial products, and improve the financial awareness of the whole society.
3. Headquarters office. Implement or introduce relevant financial, talent, office property and other incentive policies to attract corporate headquarters, regional headquarters and functional headquarters of enterprises such as R&D, logistics, financial settlement, procurement, sales, data services, investment and financing to settle in the financial town, form a headquarters economic agglomeration area, and bring spillover effects such as tax growth, industrial agglomeration, industrial linkage, consumption-driven, employment multiplier, and capital amplification to a place.
4. Urban living room. Hold a series of China Capital Exchange Conference stations, invite key domestic financial institutions to participate, help the government financial innovation, solve the financing difficulties of enterprises, and build a large permanent investment and financing docking platform in a province and region serving the real economy and financial capital. Establish a convention and exhibition center, undertake services such as event holding, leasing, and business exhibition, expand corporate publicity, and help enterprises better develop their business. Set up a financial museum to introduce the history of finance, strengthen humanities education, and popularize financial knowledge.
5. Business center. Build a small town business district and introduce large shopping malls and stores. enrich the life of small town residents and improve their taste of life; Introduce brand hotels to provide business, conference and other supporting services for the town; Introduce physical stores such as restaurants, coffee bars, and water bars to form a systematic and comprehensive online store construction to facilitate the life of town residents to the greatest extent.
6. Cultural tourism. With the help of local tourism resources, we will give full play to the role of the financial town as a platform to attract high-end financial populations from other places to invest in entrepreneurship and leisure tourism. Introduce excellent tourism brand enterprises to settle in, give full play to the advantages of local tourism resources, and promote the development of tourism. Establish a financial culture and art center to introduce financial history, popularize financial knowledge, and strengthen humanities education.
7. Leisure living. In accordance with the principle of job-housing balance and convenient work, it is equipped with high-end talent residential areas, creating an excellent environment suitable for living and working, and building supporting facilities such as top expert apartments and talent apartments in the town to solve the problem of talent residence.
(4) The operation objectives of the town
By gathering various types of funds and financial institutions, and closely coordinating with scientific and technological innovation, the town will quickly form a financial industry agglomeration effect and become an important spatial carrier for regional financial agglomeration and financial innovation. Chairman Zhang said that combined with Tongde Financial Town's own resource advantages and operational experience, it will strive to achieve the town's six goals.
1. Regional Wealth Management Center. Serve the wealth management industry and boost the development of the financial industry. Through the attraction and cultivation of cohesion, a gathering center for wealth management institutions and financial elements such as property rights, equity, and creditor's rights will be formed, and then a financial data center will be built to strengthen the radiation and influence of a financial town.
2. Financial Theory Heights. Through institutions such as the Institute of Financial Research and the Financial Education Base, a large number of financial talents have been cultivated, financial professional capabilities have been improved, and financial think tank support has been provided for local development.
3. Bridge of investment and financing. Through professional roadshows, negotiations, promotions, due diligence and resource services, we build bridges between enterprises and capital, between capital and capital, and between capital and institutions, and promote the docking of investment and financing.
4. Entrepreneurship and entrepreneurship incubation base. Aggregate asset effect, transformation of scientific and technological achievements, and incubation functions of entrepreneurship and entrepreneurship projects, attract enterprises for the transformation of scientific and technological achievements in Beijing Zhongguancun and other places, promote the development of technology-based and growth-oriented enterprises, inject vitality into the development of local industries, and help the rapid development of local entrepreneurial enterprises.
5. Investment promotion platform. While introducing funds and fund companies to settle in the town, we will give full play to the advantages of large amount of information and wide resources of institutions to promote the implementation of local investment promotion projects.
6. Benchmark for urban renewal. In accordance with the law of the development of the financial industry, with the support of the local government, we will revitalize the local idle industrial parks or commercial buildings, vacate cages for birds, transform and upgrade, build a small town operation center, build a unique industrial financial demonstration base in a province, and contribute a 100-billion-level modern financial industry to one place.
It is a comprehensive developer of industrial finance in China
In recent years, Tongde Foundation Capital Management Group Co., Ltd. has accurately grasped the laws of the modern financial industry and the needs of grassroots economic development, relying on the financial town, building a market-oriented investment and financing platform serving the grassroots, taking the capital market business as the core, taking the comprehensive investment banking empowerment as the means, and serving the local economic development as the goal, strengthening close cooperation with local governments, assisting all localities to promote financial innovation, promoting diversified, multi-channel and multi-format investment and financing docking, providing integrated industrial financial services, and striving to build a comprehensive developer of industrial finance, which produced good results.
(1) To build a comprehensive developer of industrial finance in the country. Chairman Zhang Qiang believes: "The introduction and cultivation of modern financial industry, investment and service of the real industry, the integration of industry and finance, and the integration of industry and city, this is industrial finance." Tongde Financial Town is a new model for the development of industrial finance. Tongde Financial Town Company is a comprehensive developer of industrial finance in China. "Tongde Town Company accurately grasps the development needs of local governments, aims to create a comprehensive developer of industrial finance, takes the construction of a financial town as a platform, and starts from the introduction of financial formats, the construction of a capital trading conference platform, the establishment of government guidance funds, industrial funds, capital market cultivation, private equity investment, investment promotion of entity enterprises, science and technology incubation, talent recruitment, state-owned enterprise financing, investment and financing docking roadshows, and the establishment of industrial parks. Efforts should be made to build a financial ecology that serves the development of the real economy in a place.
(2) Promote innovation in the local financial system. Tongde Financial Town is an important space carrier to promote grassroots financial innovation. Tongde Capital gives full play to its rich financial and quasi-financial institution resources and the advantages of its professional service team, and gathers multiple business formats such as finance and quasi-finance for local and regional financial innovation. The town will vigorously develop financial companies, subsidiaries and branches such as banking, insurance, securities, trusts, futures, financial leasing, factoring, and trading venues. Help mature fund management companies such as PE, VC, industrial funds and special funds to register and land in financial towns, issue fund products, and attract newly established fund managers and fund products recommended by fund companies, law firms, clubs, industry associations, project parties, etc. to settle in financial towns, so as to help financial towns become an important space carrier for regional fund agglomeration and fund innovation. Vigorously introduce data backup center, payment and settlement center, R&D center, information technology and data processing center, credit card center and business operation center. Vigorously develop new financial formats, assist the government in vigorously developing local finance, and set up guarantees, small loans, capital management companies, financial leasing, etc. Through efforts, a region will form a financial industry agglomeration area and a regional financial center where high-end elements such as capital, technology, and talents are gathered, continuously expand the scale of the fund, optimize the capital structure, promote cohesion and attraction, serve the real economy in the area where the town is located and the surrounding areas, and cultivate new economic growth points.
(3) Build a platform for capital trading conferences. China Capital Exchange Conference is the exhibition brand of Tongde Capital Group. As a grand event in China's capital industry, the conference will be held in conjunction with key domestic financial institutions, one province and one station, to help local governments innovate financially, build a permanent docking platform serving the real economy and financial capital, and compose the "same song" of China's capital industry. Relying on the financial town, they will create a never-ending capital fair. Relying on the resources of the government, enterprises and institutions of Tongde Capital and the rich experience in organizing the capital trading conference, the capital trading conference connects the financial resources concentrated in Beijing, Shanghai, Guangzhou and Shenzhen with a large number of high-quality projects at the local grassroots level, introduces the water of capital into the field of the real economy, and strives to "supply oxygen" and "blood transfusion" for the development of local economy and grassroots enterprises. Mr. Zhang Qiang has successively established two China Linyi Investment and Financing Fairs and five China Dezhou Capital Transaction Conferences. Tongde Capital Group has successively held the China Beijing Capital Exchange Conference and the China Yantai Capital Exchange Conference. "In the next step, we will rely on local financial towns to play a platform role and actively plan a capital transaction conference or fund industry conference. Using the brand of Tongde Capital Trading Conference, based on the economic development of the town, serving the surrounding areas, and creating a radiant and influential financial capital docking platform. "They will invite well-known financial industry professionals and financial investment institutions in Beijing, Shanghai, Guangzhou and Shenzhen to take the form of capital forums, special summits, policy promotion, capital docking, industry promotion, project roadshows, enterprise exhibitions, visits and inspections, etc., and hold regular conferences every year to build a bridge between financial capital and the real economy, introduce the source of capital, promote the landing of capital, form a financial format, create a capital depression, and build an economic highland.
(4) Establish or participate in the establishment of government industry (guidance) funds to serve the development of the real economy. In order to better serve the local government and promote the healthy development of the local economy, Tongde Capital Group assists the local government to set up or jointly invest with state-owned platform companies to set up fund management companies, with the main investment directions: investment in land acquisition and storage, park construction, industrial guidance funds and urban infrastructure construction. Tongde Capital pays close attention to operation and management, and is responsible for cultivating a group of professionals for fund operation for local governments. In accordance with the principle of marketization, we should do a good job in the establishment of fund products to serve the local economic and social development. Leveraging Tongde Capital's rich experience in fund operation and investment, focusing on regional development and construction investment, combined with the direction of regional economic development and industrial layout, we have established industrial funds and other special funds (including but not limited to real estate private equity funds, land acquisition and storage funds, REITs funds, special funds for new district parks and municipal construction, fund bonds, science and technology innovation bonds, etc.) guided by government funds, participated by social capital, and served local development, so as to invest in key supported industries in the region and promote the development of the real economy. Vigorously introduce venture capital funds, invest in local key supported science and technology-based and innovative industries, and promote the development of the real economy. Tongde Capital leverages its industry advantages and professional experience in private equity fund operation to provide services for venture capital funds or industrial funds.
(5) Strengthen the cultivation and service of the capital market. Based on one place, serving one province. Give full play to the practical and professional advantages of Tongde Capital Group in the field of capital market, serve listed or pre-listed enterprises, and be a comprehensive enabler of enterprise value management. Tongde Capital sorts out the enterprises above designated size in the region, selects all kinds of leading enterprises that are focused on cultivating, and provides full-capital chain financial services for the enterprises to be listed and listed and the technology-based growth enterprises in the local region. Starting from the front-end planning of the company to be listed, the whole process of planning services, follow-up counseling, direct investment, support development, promote the rapid and good listing of enterprises, avoid detours, and improve efficiency. Strengthen cooperation with listed companies, fully participate in mergers and acquisitions of listed companies, block transactions, restricted share reduction, private placement, market value management, investment and financing and other businesses, and extend the whole capital service chain. Serve the enterprises listed or to be listed on the New Third Board, starting from the pre-listing program planning, private financing, preferential sponsoring brokers, share reform specifications, private placement and roadshow services, credit and bond financing, market value management, enterprise entry into the new layer, transfer of listing and other capital links, to provide nanny and butler services for enterprises; Participate in the strategic planning and formulation of the enterprise to escort the sustainable development of the enterprise. As a strategic investor, Tongde Capital will give priority to investment and support the development of enterprises.
(6) Promote financing services for the government and state-owned enterprises. Within the scope permitted by laws, regulations and national policies, Tongde Capital Group will provide professional services throughout the whole process of local economic development, and strive to be a good adviser for government financial innovation, a good assistant for the transformation of state-owned platforms, and a good matchmaker for both investment and financing. They make full use of their abundant financial institution resources to provide rich resources and good services in project financing decisions, cost reduction, risk control, financing channels, etc. Under the same conditions, make good use of the platform of exchanges and dealers associations to provide financing services such as bonds, short-term financing, bills, leasing, trusts, and funds for local and regional economic construction and development in a preferential manner, support regional enterprises to obtain low-cost funds in the financial market, and seek diversified financing channels for the construction of regional key projects.
(7) Establish a market-oriented investment and financing promotion center. In accordance with the principle of marketization, we will give full play to the advantages of financial resources and specialization, build the financial town into a market-oriented and professional investment and financing promotion center, base ourselves on the local area, serve the surrounding areas, and enhance the financial radiation and influence of the large region. Tongde Capital Group will actively use its rich financial resources to provide relevant investment, resources, information, consulting and suggestions for the local community in the development of the financial industry, supporting policies for technological and financial innovation, promoting the listing of enterprises, and multi-channel financing. In accordance with the needs of economic development, promote the implementation of various financial and capital formats in the local area, and actively recommend financial institutions with business development needs to establish branches in the local area; Carefully organize the financial backbone team, actively provide investment and professional services for local and surrounding enterprises, with equity financing, debt financing, M&A consulting and other capital market products as the core, to serve the financing needs of entity enterprises, including domestic and foreign IPOs, refinancing of listed companies, NEEQ listing, corporate bonds, private placement bonds, fund bonds, convertible bonds, mergers and acquisitions, bond underwriting, asset securitization and other capital market business services, and promote in-depth cooperation between financial institutions, enterprises and governments. Build a large investment and financing platform to serve regional economic development.
(8) Provide investment promotion services for local industries. Based on the regional industrial planning and layout, Tongde Capital Group serves the local economic development, and strives to build a development pattern with clear positioning, clear functions and reasonable structure, as well as the development direction of a smart, innovative and efficient modern industrial system. Make full use of the resource advantages of industry associations or industry associations, provide the latest industrial development trends to local governments in a timely manner, assist local governments in grasping the dynamics of industrial development, put forward suggestions for regional industrial planning and park construction, adjust industrial layout in a timely manner, develop strategic emerging industries, and promote regional economic development; Make use of its own rich resources, combined with the existing office planning in the region, participate in the preparation of the science and technology center, and form a new highland for industrial development; Carry out industrial investment promotion services for the regional government, develop the investment role of financial towns, implement the "fund + fund town + fund investment" model, amplify the fund effect, promote investment attraction and talent attraction, and realize the financial investment promotion and entity investment promotion are correct and promoted, and the supporting linkage complements each other. Give full play to the information and investment advantages of the fund industry, and actively contact central enterprises, state-owned enterprises and listed companies to invest and develop businesses in the local area. Closely cooperate with the comprehensive economic management and financial service departments, contact local high-quality enterprises on the one hand, and cooperate with financial investment institutions on the other, vigorously promote the daily docking of investment and financing and industrial investment, and promote the coordinated development of the regional economy and multi-format financial industry.
The experience of Tongde Financial Town
Abundant financial resources are the basis for attracting investment in financial towns. Tongde Foundation Capital Management Group Co., Ltd. (hereinafter referred to as Tongde Capital Group), located in the capital Beijing Financial Street, is a professional capital management group company engaged in private equity investment and management, investment banking, asset management and comprehensive financial services, and is a comprehensive developer of industrial finance. Tongde Capital Group is a member unit of Beijing Financial Street Chamber of Commerce, with the resources of 15,000 financial and quasi-financial institutions, providing governments and government platform companies across the country with full-case planning and supporting services for the operation and development of financial towns, capital market cultivation, financial innovation, industrial funds, comprehensive investment banking, industrial investment promotion, and municipal construction fund introduction, and providing one-stop services such as listing, direct financing, asset securitization, mergers and acquisitions, and financial consulting for the majority of enterprises. The company closely focuses on the work of the local government center, with the goal of creating a comprehensive developer of industrial finance, highlights the two major sectors of capital group and small town group, establishes the concept of large investment bank, gives full play to the professional advantages of private equity investment, comprehensive investment banking, industrial finance and financial services, and strives to create a healthy and good financial ecology that serves the development of the grassroots real economy.
Firmly grasp the main line of local government economic development. Accurately grasp the needs of the government and local development, and pay close cooperation with local governments, financial offices, and state-owned companies. Assist local governments to promote financial innovation, promote diversified, multi-channel and multi-format investment and financing docking, and provide comprehensive industrial financial development services. With the construction and operation of a financial town as the general starting point, the company has made full use of diversified financial tools, broadened financing channels, improved the financial system, and strived to build a financial ecology that serves the development of the real economy in a place, starting from the construction of a capital trading platform, the establishment of industrial funds, the cultivation of capital markets, the promotion of equity investment, the introduction of investment banking business, the financing of state-owned platforms, the recruitment of talents, the science and technology innovation center and incubator, and the daily investment and financing docking. The company has successively established financial strategic cooperative relations with governments and state-owned companies in Qingdao, Jinan, Rizhao, Zibo, Weifang, Linyi, Liaocheng, Jizhou District, Tianjin, Zhengzhou, Anyang, Jiangsu, Xuzhou, Nantong, Changzhou, Ningbo, Hangzhou, Taizhou, Shijiazhuang, Langfang, Tangshan, Hengshui, Hubei, Dongguan, Guangdong, Changsha, Hunan, Hefei, Anhui, Guilin, Jiangxi, Ganjiang New Area, Taiyuan, Shanxi, Chengdu, Sichuan, Xi'an, Haikou, Hainan, Hohhot, Inner Mongolia and other governments. Achieve good social and economic benefits.
The financial services of the whole capital chain are the core of the work. As a professional private equity fund investment management group company, three subsidiaries of Tongde Capital Group have fund manager licenses approved by the Asset Management Association of China. The company is an investment institution with advanced concepts and outstanding performance in the field of PE. Tongde Capital Group focuses on and invests in technology-based and innovative enterprises with listing potential, transfer conditions of the Beijing Stock Exchange, and merger and acquisition value in the fields of new infrastructure, medicine and medical care, new energy energy, new materials, energy conservation and environmental protection, high-end equipment manufacturing, artificial intelligence, integrated circuits, culture and education. Give full play to the company's practical and professional advantages in the capital market, serve listed or proposed listed enterprises, and be a comprehensive enabler of enterprise value management. Starting from the front-end planning of the company to be listed, the whole process of planning services, follow-up counseling, promoting the listing of the company, and obtaining good investment opportunities; Strengthen cooperation with listed companies, fully participate in mergers and acquisitions of listed companies, block transactions, private placements, transformation and upgrading, investment and financing and other businesses, and extend the whole capital service chain. Serve the best quality of the new third board innovation layer or enterprises to be listed, promote the transfer of enterprises to the board, enter the Beijing Stock Exchange, and provide nanny and butler services for enterprises; In accordance with the requirements of marketization, it serves state-owned companies in mergers and acquisitions of listed companies, and expands and strengthens local leading industries; Participate in the strategic planning and formulation of the enterprise to escort the sustainable development of the enterprise.
Integrated investment banking is a means to empower local economic development. Tongde Capital Group has a large number of financial resources and rich experience in comprehensive investment banking, focusing on strengthening communication and cooperation with banks, insurance, trusts, asset management companies, securities firms, funds, venture capital, financial leasing, futures companies, investment companies, guarantee agencies, small loan companies, accountants, lawyers, credit rating and other institutions. Relying on these resources, it provides the government and government state-owned companies across the country with the whole case planning and supporting services of capital market cultivation, financial innovation, industrial funds, comprehensive investment banking, industrial investment promotion, and the introduction of municipal construction funds, and provides overall development plans for financial innovation in various places; Provide diversified financial services such as bank financing, listing financing, private placement financing, equity financing, bond financing, bill financing, trust financing, leasing financing, mergers and acquisitions, etc., and is committed to broadening corporate financing channels and following up the implementation of corporate funds throughout the process.
Specialized financial services are the brand of the financial town. We fight the economy together with the party committee and government! The group company adheres to the principle of "facing the government, facing institutions and facing enterprises", closely links with various cross-border financial institutions, plays the role of a bridge and link, runs professional services through the whole process of business development and local economic development, and provides comprehensive financial services from the aspects of government financial innovation, guidance fund establishment, comprehensive investment banking, listing, transformation of state-owned companies, enterprise investment and financing, financial platform construction, industrial and financial investment, financial think tank, etc. Focusing on the needs of enterprises and the characteristics of the development of the fund industry, we will assist the government in optimizing the fund landing process, simplifying the procedures, studying support policies, realizing the convenience, speed and efficiency of the introduction and implementation of fund companies and fund products, and creating a good business environment and financial development environment.
The peach and plum do not speak, and the next is its own. Through several years of practice, Tongde Financial Town has rich financial resources and practical experience in successfully operating a fund town. (1) In October 2017, the company signed an agreement with Rizhao City to jointly build Bailuwan Fund Town with Rizhao Finance Group, and up to now, more than 1,500 enterprises have settled in Rizhao Bailuwan Science and Technology Financial Town, with subscribed registered capital of 30 billion yuan, paid-in fund of 20 billion yuan, and tax payment of 2 billion yuan. (2) Since the signing of the landing agreement in January 2020, Jinan Quancheng Financial Town has registered more than 400 companies and fund products, with an asset management scale of more than 30 billion yuan, and a tax revenue of 470 million yuan in the past three years, and is expected to become an industrial park with the highest per mu tax in Jinan by the end of 2023. (3) On April 13, 2021, the Company signed an agreement with the Xianghe County Government of Hebei Province and Vantone to build a fund town in Xianghe. At present, Xianghe Fund Town has been listed as a key project by Langfang City, and nearly 40 funds, including CNOOC Fund, a key central enterprise fund, have signed a settlement agreement, with an asset management scale of 6 billion yuan. (4) In August 2022, nearly 60 funds or fund products have been registered in Dezhou Ande Financial Town, with an asset scale of nearly 5 billion yuan, and a tax of 20 million yuan in 2022. (5) Qingdao Nanfushan Bay Fund Valley, in December 2022, signed a cooperation agreement with Qingdao Shinan District Government on Fushan Bay Fund Valley, and opened on May 12, 2023 to attract enterprises to settle in the current economic management scale of 5 billion yuan and contribute 20 million yuan in taxes. (6) Taiyuan Xinghualing District Fund Town, on April 26, 2023, signed a cooperation agreement with the People's Government of Xinghualing District, Taiyuan City, Taiyuan Xinghualing District Fund Town, and is currently carrying out the decoration of the investment promotion platform. (7) Tianjin Panshan Fund Valley, on June 30, 2023, signed a cooperation agreement with the People's Government of Jizhou District, Tianjin Municipality on Tianjin Panshan Fund Valley. At present, the governments of Shijiazhuang, Nanjing, Changsha, Wuhan, Xi'an, Chengdu, Chongqing, Zhengzhou, Hainan, Dongguan, Quanzhou, Wuxi, Jinhua and other places are also negotiating the establishment of financial towns.
Good effect for a better future
Chairman Zhang Qiang said that by gathering various types of funds and financial institutions, and closely coordinating with scientific and technological innovation, Tongde Financial Town will quickly form a financial industry agglomeration effect, making the town a regional wealth management center, a financial theory highland, a bridge for investment and financing, a double innovation incubation base, an investment promotion platform, and an urban renewal benchmark, creating an influential private equity fund agglomeration area, a large investment and financing platform and a new highland for industrial finance in a province. Under the premise of sustainable policies, the main expected effects of a financial town are:
(1) Wealth effect. The fund industry is the wealth management business. The town will strive to build a financial wealth center in one place. Within five years, the financial town will develop into a complete financial industry ecosystem with more than 1,000 private equity and other financial investment institutions, with a fund management scale of 120 billion yuan.
(2) Taxation and fiscal effects. Private equity funds are a high-yield industry. Based on the five-year exit of the fund, calculated according to the minimum industry bottom annualized income of 12-15% (simple interest), the cumulative income in five years is 100 billion; According to the personal income tax of 20% and the enterprise income tax of 25%, the cumulative income tax of 5 years is conservatively calculated to be more than 20 billion yuan, and the value-added tax is conservatively calculated to be more than 6 billion yuan according to the value-added tax of 6%. According to the current tax revenue retention ratio, the financial town has contributed more than 10 billion yuan in fiscal revenue in five years.
(3) Industrial effect. The financial town will promote the transformation and upgrading of industrial clusters. Based on the equity fund's investment of 15 billion yuan in local industries (direct financing), it can drive more than 30 billion yuan of debt financing such as bank credit, and it is expected to drive more than 45 billion yuan of investment in financial towns within five years. The optimization of the financial environment will promote the rise and introduction of the science and technology innovation industry. It is expected that the town will incubate 500 technology start-ups within five years.
(4) Listing effect. Tongde Capital Group is a financial service provider of the whole capital chain. We plan to introduce or cultivate more than 4 listed companies for a district and county within five years; Relying on the linkage of capital, more than 5 subsidiaries of listed companies have been introduced. Plan industrial mergers and acquisitions of the parent fund and the science and technology innovation board fund, and invest in building an industrial park for listed companies.
(5) Employment effect. 1,000 financial enterprises will settle in the town, which is expected to drive 10,000 high-end financial employment population and derive a doubling of service industry jobs in the town.
Aiming at future development, Chairman Zhang Qiang is full of confidence. He said: "Beijing Tongde Town Company will closely focus on the development strategy of Tongde Capital Group, take the work of serving the local government center as the core, give full play to the role of a comprehensive developer of industrial finance, based on the professional advantages of private equity investment, comprehensive investment banking, industrial finance and financial services, build a large platform for investment and financing, accelerate the expansion of the financial town model, vigorously promote the comprehensive development of industrial finance, and strive to create a healthy and good financial ecology serving the development of the grassroots real economy." ”