Money
CIPEF boosts Tianjin into China's PE center
Updated: 2011-03-30 16:43
By Zhang Jia (chinadaily.com.cn)
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Wang Weizhong, vice minister of Science and Technology, Sun Anming, vice chairman of All-China Federation of Industry & Commerce, and Cui Jindu, vice mayor of Tianjin, present at the press conference for the 5th CIPEF, March 19, 2011. [Photo / China Daily] |
At a press conference for the 5th China International Private Equity Forum (CIPEF), Cui Jindu, Tianjin's vice mayor, said the city's three pillars – private equity, property investment funds and hedge funds – are the main reasons for its success.
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Cui Jindu, vice mayor of Tianjin |
CIPEF introduced many financing ideas into China, including the direct investment of small- and medium-sized equity funds and small- and medium-sized enterprises (SMEs) financed by equity transfer. CIPEF is an essential platform for spreading knowledge of private equity, institution building and industrial development.
Tianjin held the first CIPEF in 2007, in which all the 220 companies came from overseas. At the third CIPEF, RMB-based fund companies have accounted for half of the participants. This change sent a message that CIPEF plays an indispensable role in market education, institution building and industrial development, Cui said.
As one of the biggest and highest-level grand meetings for private equity, CIPEF has successfully hosted four sessions. The fifth CIPEF, the Scientific and Technological International Private Equity Forum, will open at Tianjin Meijiang International Convention & Exhibition Centre between June 10 and 12. The event will be sponsored by the Tianjin Municipal Government, the All-China Federation of Industry and Commerce, the Ministry of Science and Technology and the Association for Corporate Growth.
The preparatory work for the forum is in full swing. This year, the forum will attract about 500 equity investment funds, 300 intermediary institutions and 1,500 enterprises from United States, Canada, Britain, Australia, among other countries. The total number of participants will exceed 5,000.
With the CIPEF's superior resources, the 2011 Tianjin International Luxury Exhibition will come on the stage where world-renowned brands and national high-end brands will be showcased. This exhibition will bring luxurious culture to China's wealthier classes and polish Tianjin's new image.
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