***3 batches of 10 industrial investment funds

Domestic industrial investment funds have been reported to the National Development and Reform Commission by local governments, and are established and operated in a pilot form after approval by the State Council. In recent years, the development of my country's industrial investment funds has gradually accelerated. From the establishment of the first batch of industrial investment funds, the Bohai Industrial Investment Fund, in November 2006, to August 2007, the State Council agreed to the National Development and Reform Commission to expand the pilot application for RMB industrial investment funds and approved Shanxi Energy Fund, Guangdong Nuclear Power Industry Fund, Shanghai Financial Fund, Sino-Singapore High-tech Industrial Investment Fund and Mianyang Science and Technology City Industrial Fund were selected as the second batch of pilot industrial funds, and then the recent release of the third batch of four industrial funds. Up to now, there have been 10 industrial investment funds approved by the state for pilot projects, with a total fundraising scale of more than 140 billion yuan. However, except for the first approved Bohai Industrial Investment Fund, which has substantial investment projects, the second batch of five industrial funds have not yet had formal investment operations.