Guiyang SOE sparks major investments

Guiyang Industrial Development Holding – a State-owned enterprise or SOE located in Guiyang, capital of Southwest China's Guizhou province – is currently managing 16 foundations with a total scale of 18 billion yuan ($2.84 billion), which are investing in 70 companies.

The company started foundations to secure investments for other companies last year. So far, the company has reportedly attracted more than 30 companies from outside Guizhou and indirectly brought in 2.04 billion yuan of social capital investment – helping about 5,000 people to find jobs and indirectly contributing more than 1.2 billion yuan in tax revenue.

The 70 companies receiving foundation investments from Guiyang Industrial Development Holding cover the areas of big data, medical treatment, and high-end equipment manufacturing.

With careful business operation and cultivation, four out of the 70 companies have been listed on the stock exchange, while another 15 companies are preparing to be listed.

Moving forward, plans are for Guiyang Industrial Development Holding to continue to invest through its foundations and further assist in Guiyang's new industrialization.