Kunming Pharmaceutical Group, Ping'an Securities and Industrial Bank co-founded the Kunming Nuotai Pharmaceutical Industrial Buyout Fund on Dec 16 in the Kunming Hi-Tech Zone, aiming to purchase existing pharmaceutical enterprises and assist investors.

As a leader in the pharmaceutical industry, Kunming Pharmaceutical Group cooperates with the two top financial institutions, driving the development of the industry with capital. The payout fund will also provide financial services to enterprises of emerging industries in Yunnan province and enrich the modern service industry.

Heads of Kunming Pharmaceutical Group, Ping’an Securities and Industrial Bank sign the cooperative agreement to found the Kunming Nuotai Pharmaceutical Industrial Buyout Fund on Dec 16. [Photo/kmhnz.gov.cn]

At the signing ceremony, Wang Minzheng, director of the administrative committee of the Kunming Hi-Tech Zone, outlined the economic and social development of the zone and said that all members of the local government would spare no efforts to support and serve the industrial fund.

Also present at the signing ceremony were directors of the economy promotion bureau, finance office and investment promotion bureau of the zone and heads of Hofon Pharmaceutical Group, Kunming Pharmaceutical Group, Ping'an Securities and Industrial Bank.

Directors of the Kunming Hi-Tech Zone and the three companies celebrate at the signing ceremony. [Photo/kmhnz.gov.cn]

By Shi Zihan and edited by Michael Thai