On October 12, IB, Fujian Ocean and Fisheries Department, CCCC Fund Management (Beijing)Co.,Ltd., and CCCC Shanghai Dredging Co.,Ltd. held a signing ceremony in Fuzhou and reached a strategic cooperation agreement to push forward Fujian’s marine economic construction. According to the agreement, IB will participate in launching a special industrial fund for marine economic construction with a scale of RMB 10 billion, providing financial support for Fujian’s marine economic construction.
It is introduced that the strategic cooperation will give full play to advantages of all involved parties in industry planning and management, comprehensive financial services, industrial fund investment, as well as port design and construction, focus on construction of fishing harbor economic zone and fishery complex, promote marine industry supply side reform in Fujian province and enhance the development of marine-related industries. It includes: setting up a special industrial fund of RMB 10 billion with an initial fund-raising of RMB 2 billion used for Fujian fishing harbor economic zone, fishery complex, fishery characteristic town, marine engineering equipment, etc.; promote the comprehensive exploitation of Fujian province marine equipment, offshore wind energy and marine tourism resources in Fujian province, speeding up the construction of Fujian coastal marine complex, and achieving transformation of marine economy; pushing forward the construction of Fujian fishing harbor economic zone, elevating the level of Fujian fishing harbor construction with fishing harbor economic zone as a link, and realizing integrated development of three sectors along the coast. Furthermore, as a co-sponsor, IB will assume the function of extension and management of the special industrial fund for marine economic construction.
In recent years, Fujian province fully implements “Five Development Concepts”, actively adapts to the new normal of economic development, focuses on Development Plan of Fujian Cross-Strait Blue Economy Experimental Zone, and strives to carry out the construction of marine economy pilot province. As a result, Fujian achieves sound marine economic development. In 2015, its marine production totaled nearly RMB 688 billion with an average annual growth of 13.3% during the 12th Five-Year Plan, representing an essential force to drive forward the province’s economic development. During the “13th Five-Year Plan”, based on giving full play to existing functions including sheltering from the wind and disaster prevention of the fishing port, Fujian province will rely on towns and fishery to set up 20 fishing harbor economic zones with balanced industrial structure, higher industrial level as well as prominent leading role and radiation effect. It will also expand economic functions of fishing ports in trade, processing and logistics, promote linkage of fishing ports cluster, towns cluster and industrial cluster, and facilitate marine industrial agglomeration. The agreement will better encourage and guide large central enterprises and financial capital to participate in construction of fishing port economic zone and fishery complex in Fujian province and deepen the connection between marine economic development and financial innovative service.
As the only Fujian-based national commercial bank, IB will give full play to its operational advantages as a group, make more financial innovations in marine economic construction, support key enterprises in Fujian’s marine economic industry in obtaining greater development, encourage cross-region investment, acquisitions and mergers, steer agglomeration of marine industrial projects and capitals, and serve marine economic development.
In recent years, IB actively adapts to the new economic normal and serves supply-side reform in Fujian province through industrial fund. Till now, it participated in establishing Fujian Culture Industry Development Fund, Fujian Technical Reconstruction Fund and Fujian Public-Private Partnership(PPP) Earmarked Fund, providing strong support for economic restructuring and supply-side structural reform in Fujian province.