Zhejiang Industrial Fund, operated by the State-run Zhejiang Provincial Financial Holdings Co, has made a total investment of nearly five billion yuan ($770 million) in about 20 projects related to the province's rural revitalization drive.

These projects also drew in nearly 10 billion yuan in capital from equity investors, as well as creditor investors, who had been encouraged by the government's financial support as represented by the fund.

According to Zhang Qicheng, chairman of Zhejiang Provincial Financial Holdings Co, the priorities for the Zhejiang Industrial Fund include those benchmark projects that shore up the province's stable supply of agriculture products.

Throughout 2019, pork prices nationwide saw substantial fluctuations because of the nation's rising cases of African swine fever. To tackle the resulting volatility of pig farming, the Zhejiang Industrial Fund provided financing for four programs involving the upgrading of the pig supply chain, which in turn bred a series of well-known swine brands.

Another successful project for the Zhejiang Industrial Fund was its investment in the Zhoushan National Ocean Fishing Base in 2016. The base boasts a whole industrial chain integrating ocean fishing, refrigerated logistics, aquatic products processing, seaport trade, and support systems. A wide variety of high-quality seafood has been consistently transported from there to millions of consumers across the country.

China Pelagic Squid Trading Center is located at the Zhoushan National Ocean Fishing Base in Zhoushan, Zhejiang province. [Photo/zj.zjol.com.cn]

The Zhejiang Industrial Fund is also an advocate of the development approach that states "lucid waters and lush mountains are invaluable assets". One of its signature investments in this regard is its engagement in the establishment of the Zhejiang Ancient Village Protection and Utilization Fund in 2016, which has so far incubated cultural tourism business complexes in a dozen ancient villages across the province, attracting millions of tourists and enriching thousands of villagers.