Hangzhou Yuhuang Shannan Fund Town evolved from the Yuhuang Shannan International Creative Finance Industrial Park established in 2008. At that time, in order to find financing channels for the cultural and creative enterprises in the park, the government consciously introduced a group of investment fund companies, but it did not expect to form a venture capital industry.

In August 2014, the "Business Type and Function Planning of Yuhuang Shannan Fund Town" passed the review, and Hangzhou Yuhuang Shannan Fund Town was formally established. As of the first quarter of 2015, the fund town has gathered 160 fund institutions of various types, with total assets under management exceeding 100 billion yuan, making it the block with the largest number of private equity investment companies and the largest assets under management in Hangzhou. It is said that Cisco China has settled in Shangcheng District, Hangzhou. The main reason is that the fund town plays a role in promoting the establishment of the upstream and downstream industrial chain and the formation of a smart industrial base.

The low-density office environment with green mountains and green waters is the biggest reason for attracting many fund companies. In Fund Town, you can see Chinese-style small buildings and Chinese-style courtyards scattered in the green; these small buildings are strung together by small but unusually clean trails. In addition, the fund town has convenient transportation. Yuhuangshan South is 45 minutes away from Shanghai High-speed Railway. Within 90 minutes of the traffic circle, a large financial space can be built together with Shanghai, Nanjing, Ningbo and the southern wing of the Yangtze River Delta; it is 3 kilometers away from West Lake, 6 kilometers away from Hangzhou New CBD Qianjiang New Town, and A half-hour drive from Xiaoshan International Airport.

Summarizing the development practice of Hangzhou Yuhuangshannan Fund Town, the following construction experiences are worthy of reference and reference:

1. Use policy resources to explore and implement scientific support mechanisms

Compared with the financial industrial parks that have been built in China, the Shangcheng district government, which has jurisdiction over Hangzhou Yuhuangshan South Fund Town, has limited financial resources and has no obvious advantages in taxation and other policies. In fact, the income tax return of the fund town is only one-half of that of most domestic financial industrial parks. However, the Shangcheng District government has set up a special district private equity (hedging) fund town leading group to conduct research and innovation on the policy preferences of fund towns; make use of existing policy resources, formulate and implement a more scientific support mechanism, and realize the province The superposition of the three levels of support policies in the urban area. At present, the support policies of Yuhuang Shannan Fund Town cover many aspects such as corporate income tax, business tax, settlement incentives, and house purchase subsidies (see Figure 3).

Nowadays, Hangzhou Yuhuangshannan Fund Town has been listed as a pilot project for deepening the reform of the financial system in Hangzhou, and is strongly supported by the Zhejiang Provincial Financial Development Promotion Association and the provincial financial management department.

2. Supporting the government and independent enterprises to build a healthy fund development ecosystem

Hangzhou Yuhuangshannan Fund Town adopts the development mechanism of "government + new operation subject". The government mainly provides hardware environment, policy support and service support for the establishment of institutions. At the same time, the representative organizations of the private equity (hedging) fund industry are entrusted to organize and operate the main body, through the "industrial chain investment" and "ecological circle construction" models, to give play to the influence and leading role of industry associations and leading enterprises, and carry out professional park development and The promotion of work has effectively led to the rapid accumulation of the entire industry.

In fact, for fund companies, the "financial ecosystem" and the "private financial industry chain" are very important. When the Shangcheng District government cultivates and introduces various private equity (hedging) funds and other core business types (private securities funds, private commodity futures funds, hedge funds, quantitative investment funds, private equity funds), it is supporting the introduction of private equity intermediary services closely related to its business. Institutions, auxiliary industries, symbiotic industries, and supporting support departments, etc., together form a five-level ecosystem, which is conducive to building a "zero distance" strategic relationship between private equity (hedge) funds and upstream and downstream companies, and building a complete private equity fund industry chain and ecology System.

At present, there are nearly 400 financial companies scattered inside and outside the town (both in the Shangcheng District), with an average of more than 20 per square kilometer. Among them, the regional headquarters of the four major industries of banking, insurance, futures, and securities have reached 27, and 25 banks of various types (including 13 provincial and municipal branches) have settled in.

In addition, the town has also established a private equity (hedging) fund research institute to provide professional supporting services for settled enterprises; its main functions will include organizing private equity (hedge) fund forums, conducting research in the field of private equity funds, and establishing evaluation and evaluation of private equity fund managers. Monitoring system, publishing the most authoritative private equity industry research reports in China, and holding financial talent exchange activities, etc.

3. Orderly arrangement of food, clothing, housing and transportation to create a life circle of senior financial talents

In conjunction with the construction of Hangzhou Yuhuangshan South Fund Town, the Shangcheng District government has issued a number of policy documents to serve the lives of financial professionals, and provide high-value and meticulous measures in terms of house purchase, house rental, information application, business house decoration, and talent introduction. Provide funding and subsidies to build a life circle for senior financial talents. The town has built talented apartments, introduced supermarkets, entertainment centers, specialty restaurants, supporting bars, tea houses, beauty and fitness and other living and entertainment facilities, forming a complete life supporting service system.

First of all, the surrounding area of the town is Hangzhou's high-end living areas, especially the large high-end residential areas along the north bank of the Qiantang River, which can provide an ideal living environment for high-income financial professionals. Secondly, the nearby dining facilities are complete. There is a Hangbang Cuisine Museum in the town. It is adjacent to Gaoyin Street, Zhongshan South Road Food Street, where traditional dining meets, and Manjuelong, where creative dining meets. In addition, resources such as medical treatment and education are also abundant. Shangcheng District has the best medical resources in Zhejiang Province. The density of tertiary hospitals such as Zhejiang First, Zhejiang Second, Provincial Women’s Insurance, and Provincial Traditional Chinese Medicine Hospital is the highest in the province; the province’s well-known primary and secondary schools also All around the town, there is an international school under construction.