According to Tianjin Daily (Reporter Zhicheng Wu), the first official preparation meeting for the first China International Private Equity Forum was held yesterday. Mr. Mengfu Huang, the Vice Chairman of CPPCC National Committee, the Chairman of the All China Federation of Industry & Commerce (ACFIC), and the honorary Chairman of the Organizing Committee and Mr. Xianglong Dai, the Tianjin Party Committee Vice-Sectary, the Mayor of the Tianjin Municipal People’s Government and the Chairman of the Organizing Committee attended and the meeting and addressed the attendees. Mr. Longzhi Zhang and Mr. Ping Chu, the Vice Chairmen of ACFIC, Mr. Yuanlong Zhang, the deputy director of the TIanjin City Congress, Mr. Ronglin He, the General Secretary of Tianjin Municipal People’s Government were also in attendance.
Mr. Mengfu Huang, on behalf of All China Federation of Industry & Commerce, thanked the Tianjin City Government for the time and effort put forth in preparing for the conference. He stated that providing avenues for small- to medium-sized Chinese enterprises to raise capital for growth was one of the most important projects discussed during the National Finance Meeting in early 2007. He also said, “While domestic banks are offering various loan products to small- and medium-sized businesses, we also need to attract and utilize foreign capital, and specifically the right private equity funds focusing on small- to medium-sized enterprises. This forum provides a platform for international capital raising. Preparations for the conference are crucial. We need to understand foreign private equity funds investment criteria and pre-screen and match the best qualified companies. We also need to start a national advertising campaign and a registration process. All supporting organizations need to communicate and coordinate to ensure the preparations meet the stated timeline and the ultimate success of the forum.”
Mr. Xianglong Dai said that the National Finance Meeting emphasized the importance of developing and reforming the capital and insurance markets, creating a comprehensive financial system and increasing direct foreign investments. The State Council has approved Tianjin Binhai New Area as the experimental district for national reform and that financial reform is the number one priority, which includes increasing direct investment, improving financial operations, reforming the foreign exchange system and creating financial institutions able to offer new products and services. Recently, the establishment of Bohai Industrial Investment Fund and its Fund Management Corporation is evidence of the heightened focus and pace surrounding financial reform in Binhai. The First China International Private Equity Forum will provide new avenues for small- and medium-sized Chinese enterprises to raise capital.
The Tianjin City Government fully supports this forum. It has created task groups to plan and promote the conference, pre-screen companies and ensure proper focus on the preparations. With all sponsors and supporters working together, it will be a successful forum.
The first preparation meeting approved the list of members on the Organizing Committee and a draft of the preparation plan for the conference.