Cathay Pacific Haitong announced that its wholly-owned subsidiary Cathay Haitong Kaiyuan Investment Co., Ltd. plans to jointly fund the establishment of Shanghai International Group Asset Management Co., Ltd., a wholly-owned subsidiary of Shanghai International Group Co., Ltd., and the total amount of pledged capital is 20 billion yuan. China Taihaitong Kaiyuan has pledged 4 billion yuan, International Group Asset Management Company has pledged 2 billion yuan. Cathay Pacific Haitong Kaiyuan is the fund manager and executive partner, and ICBC Capital Management Co., Ltd. will jointly serve as the executive partner. The fund only invests in lower-level funds that have been reviewed and approved by the partner meeting. The investment direction of lower-level funds is key industries such as next-generation information technology, high-end equipment, new materials, biomedicine, artificial intelligence, and the digital economy.

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