At the "Chuangxiang +" press conference held on the 12th, the first two "county funds" in Xianyang were officially unveiled. One of them, the Chunhua Industry Revitalization and Development Fund, was jointly established by Xianyang Finance, the listed company Shaanxi Guotou (000563) and Chunhua Urban Investment, with a scale of 100 million yuan.
After the trust industry bids farewell to the "golden 10 years" dominated by real estate, platforms and channels, is the trust industry oriented by "based on local characteristics" and "three classifications" really promising in the county?
Five consecutive increases: more than 10 billion in 2022
Since it is a directional purification fund, it starts from the fundamentals of purification.
Chunhua is located in the north of Xianyang, located in the southern edge of the gully area of the Weibei Plateau, with a total area of 983 km² and a permanent population of 142,000, 75 kilometers away from the provincial capital Xi'an, within the 1-hour economic circle of Greater Xi'an.
From 2018 to 2022, Chunhua County's GDP has increased for five consecutive years, from 7.608 billion yuan to 10.018 billion yuan, and an important node during this period is to break through the "10 billion" mark.
Although the GDP data of Chunhua County in 2023 has not been found, the county's fiscal revenue in the first three quarters of that year increased by 92.5% year-on-year, "leading" Xianyang City, and significantly surpassing the second place Sanyuan County (53.2%).
In other words, although the overall economic volume of Chunhua is relatively small, the rapid growth momentum has been shown in recent years.
Next, it enters the tertiary production structure.
Judging from the data, the structure of the primary, secondary and tertiary industries in Chunhua is relatively balanced (see the figure below), but in recent years, as the economy continues to improve, there have also been subtle changes of "one rise and three declines", and the primary industry has risen from 32.9% to 37%.
In fact, this change is extremely in line with the positioning of the provincial party committee and provincial government on Chunhua.
In October 2023, Shaanxi issued the "Successive Policies and Measures to Support the High-quality Development of the County Economy", which scientifically divides the counties in the province into three types: industrial function counties, main agricultural product producing counties, and ecological function counties.
In the "Measures", the main producing counties (cities, districts) of agricultural products mainly consider the growth rate of the added value of the primary industry and other indicators. So, does this "limitation" inhibit the growth of the county economy? Absolutely not!
Financial Lollipop believes that the county economy does not point to "everyone becoming an industrial town", and resource endowment is still the decisive factor. In the primary industry, Chunhua is constantly doing the "development of characteristic agricultural products, making the agricultural product processing industry and agricultural productive service industry better and stronger".
Combined with the fact that the first industrial "track" in each county was re-selected in Shaanxi in 2022, the first industry in Chunhua County is buckwheat manufacturing, and the industrial type belongs to the integration of three industries.
Taking the content of the CCTV report as an example, in 2022, Chunhua buckwheat will be planted to 40,000 mu, with an annual output of more than 10,000 tons, and more than 10 deep processing enterprises such as tsk sticks and Chun buckwheat mushrooms, which have formed an integrated development pattern of primary, secondary and tertiary industries such as planting, catering, and processing, with an output value of 500 million yuan in the whole industrial chain.
The expected goal is that by 2025, the planting area of Chunhua buckwheat will reach more than 50,000 mu, and more than 1,000 Chunhua buckwheat dumpling shops will be newly developed, with a total output value of more than 5 billion yuan, and more than 10,000 people will be employed in entrepreneurship.
It is worth mentioning that there are also many bright spots in the construction of the "324" modern industrial system in Chunhua.
For example, in 2022, it received 2.2316 million tourists, a year-on-year increase of 23.3%, and achieved a comprehensive tourism income of 1.002 billion yuan, a year-on-year increase of 23.2%. For example, the 10,000-cow demonstration ranch in Chunhua County has also entered a strong construction cycle, as detailed in "Xianyang Exploration of "New Investment Bank": "State Council Gift Package" and "20,000 Mu Northeast Farm".
Goal: deep integration of three industries
The industry is prosperous and the county is strong.
The total scale of the Chunhua Industry Fund is 100 million yuan, and under the classification of "Measures", this fund is likely to be the first special fund in the province to land "the main producing counties of agricultural products".
According to the plan, the three parties of the fund LP are Xianyang Government Guidance Fund, Shaanxi State Investment and Chunhua County Urban Investment Company, and the GP is Xianyang Finance Private Placement.
It is reported that the Chunhua Industry Fund will be combined with the Chunhua development plan to invest in the county's three industry integration projects, including the county's economy in the fields of large consumption, health, food deep processing, e-commerce, supply chain and buckwheat industry and other high-quality science and technology projects.
In the view of the financial lollipop, there are three reasons why Shaanxi Guotou appeared in the Chunhua Industrial Fund this time:
The first is to respond to the strategic deployment: "county economy" is the first of the province's "four economies", but also a solid support for the provincial economy, Shaanxi Guotou, as an advanced unit of financial institutions to support Shaanxi's economic development in 2023, based on serving the overall situation of the province, this move is to leverage the cultivation of leading industries with county characteristics and promote the high-quality development of the county through fund means.
As early as 2017, during the "poverty alleviation" period, Shaanxi Guotou used the form of "industrial poverty alleviation" to introduce Xianyang Baimin Leda Pharmacy Company to settle in Chunhua through a low-interest loan of 30 million yuan, during which the annual loan discount was not less than 1.5 million yuan, and the cumulative interest discount was tens of millions of yuan in the past seven years, and continued to help enterprises become stronger, better and bigger from financial services, management consulting, legal compliance, performance management, etc.
"From the settlement of Baimin Leda Pharmacy in Chunhua in 2018 to the end of the first quarter, Baimin Leda Pharmacy has paid a total of about 83.27 million yuan in taxes for Chunhua County, becoming a major taxpayer in the county," said a relevant person from Shaanxi Guotou.
Third, there are policies to guide: Article (25) of the "Measures" clearly mentions that counties (cities, districts) with conditions are encouraged to explore the establishment of county-level characteristic industry funds, and promote qualified counties (cities, districts) to vigorously develop charitable trusts. In fact, both are on the road.
The former is not to be repeated, the latter is that during the epidemic in 2020, Shaanxi Guotou set up the "Shaanxi Guotou Shaanxi Charity Association - Maike Group - United to Fight the Novel Coronavirus Pneumonia Charitable Trust", part of the funds were used to strengthen the anti-epidemic medical security in Chunhua County; in the same year, Shaanxi Guotou invested 57,000 yuan to establish the "Love Chunhua - Help Poverty Alleviation Charitable Trust" to purchase poverty alleviation insurance for some extremely poor households in Chunhua County; in 2023, Shaanxi Guotou, together with Yongjiaxin Law Firm and Xiying Group, established the "Shaanxi Guotou · Shaanxi Provincial Public Welfare Charitable Trust for Minors for Law Popularization", among which, the law popularization education program in Chunhua County has been implemented.
Of course, for the content mentioned in Article 9 of the "Measures" to strengthen the empowerment of investment and financing (platform) to encourage platform companies to promote the securitization of stock assets (ABS) and actively participate in the pilot of real estate investment trusts (REITs), Shaanxi Guotou told Financial Lollipop:
"Chunhua County's asset integration and asset securitization is also one of the projects that our company plans to focus on in the future."
Deep cultivation in the province: the fund blossoms in many places
In the context of the transformation of the trust industry, through the latest performance of the fund side, Shaanxi Guotou's decisive will to accelerate business innovation and real results are obvious to all.
As early as the beginning of 2023, Financial Lollipop published an article "Internet Giants "Raise Funds through the Road": Meituan Xiaomi Seeks "Shaanxi High-net-Worth LP"", which mentioned that Shaanxi Guotou and Meituan jointly invested in Chengdu Longzhu Venture Capital Fund.
As a financial observer focusing on the local area, I will draw my attention back to the province, because as Shaanxi Guotou is increasingly deeply involved in Shaanxi, its operation in this dimension cannot be bypassed.
In November 2022, Xianyang held a press conference to carry out the largest fund expansion in history, with 5 funds exceeding 22.1 billion yuan. Among them, the 10 billion yuan Xianyang City Development Fund will be set up by Xianyang Finance and Shaanxi State Investment (000563) to set up a special trust plan, and the trust funds will be used to invest in the urban operation turnover of the "Xianyang Urban Development Group", and will be invested in market-oriented fields such as urban operation in the implementation.
On the same day, Shaanxi Guotou also invested 250 million yuan to participate in the establishment of the "Financial Stability and Development Fund", which is mainly used for the capital turnover of city and county platform companies to repay due debts and resolve regional liquidity risks.
In addition, according to the incomplete statistics of financial lollipops, if sorted out according to the timeline, there are the following funds.
The Fengdong Hard Science and Technology Fund, established in November 2020, with a scale of 300 million yuan, was jointly established by Shaanxi Guotou and Fengdong Industrial Development Guidance Fund and other institutions, mainly investing in innovative technology enterprises in the fields of optoelectronic semiconductors, intelligent manufacturing, and other companies in line with the industrial development direction of Fengdong New Town.
Established in October 2022, the Soaring Tianxing Entrepreneurship Fund was established by Shaanxi Guotou and the investment management company under the Aerospace Power Research Institute, and has invested in 4 technology-based enterprises, including Xi'an Aerospace Power.
The Fengdong Modern Urban Development Fund, established in March 2023, was established by Shaanxi State Investment Corporation and Fengdong Industrial Investment, with a scale of 2 billion yuan, focusing on the infrastructure construction, park construction, and urban renewal of Fengdong New Town.
With the help of this participation in the Chunhua Industry Fund, the deepest feeling of the financial lollipop is that Shaanxi Guotou, as a provincial key financial institution, continues to explore under the expectation of industry transformation, and with the help of the tool of "fund", the intensity and intensity of deep cultivation in Shaanxi continue to increase, horizontally extending from urban changes and science and technology to cover more fields, and vertically from the provincial and municipal areas to the county level, which is a vivid portrayal of actively practicing politics and people's nature.