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On April 30, 2009, Huaqiao Financial Service Outsourcing Fund, one-billion yuan worth dedicated to emerging financial service outsourcing industry, was officially established at HuaQiao International Service Business Park (HISBP), Kunshan, Jiangsu Province. HISBP is the first development zone in the country focusing on modern service industry. The Fund is China’s first stock equity investment fund exclusively serving the financial outsourcing business.
The Fund is reportedly composed of investment from Kunshan Municipal Government and capital collected from the society by capital investment companies. The first stage registered capital amounts to 200 million yuan, and the overall scale will reach one billion yuan. The Fund adopts the company operating mode, and employs professional institutions with service outsourcing industrial resources and stock equity investment fund management experiences for management. The Huaqiao Fund will take the forms of stage-based equity participation and direct investment to supply financing service to service outsourcing enterprises in Huaqiao, support and expand the service outsourcing business in Huaqiao, and reap economic returns for investors. As an investor, Kunshan Municipal Government pays higher attention to utilizing the Huaqiao Financial Service Outsourcing Fund to avail itself to the modes of equity investment and international merger and acquisition, enable the government to capture times of capital from the leverage effects with small amounts of capital, so as to attract more quality service outsourcing projects to concentrate in Huaqiao, facilitate upgrading of Huaqiao service outsourcing industry, and win social benefit return.
To some degree, the establishment of the Huaqiao Fund has changed the traditional “rules of game”, in which the government relied on offering preferential policies to attract businesses and facilitate industrial development. By way of capital operation, the new mode integrates the government and enterprises, enables the government to participate in business operation as capital investor, generates entities of mutual benefits, so as to jointly turn businesses greater and larger, and accelerate local industrial development. Besides, taking the Fund as a service outsourcing investment platform will undoubtedly become a shining point in the business invitation schemes of HISBP, and sharpen the competitiveness of HISBP.
To date, the Fund has gathered a group of elites for service outsourcing. It has accumulated more than one billion yuan service outsourcing project pool that covers multiple segmented service outsourcing fields, such as financial BPO, CRO, KPO, HRO and supply chain management.
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