In the first quarter, the provincial fund for the transformation of old driving forces to the new ones ran well in Shandong, with a total subscription of 3.91 billion yuan of newly established funds, 58 investment projects newly added, four investment enterprises listed, 3.72 billion yuan of fund investment completed, and 27.38 billion yuan of investment and financing driven by financial and social capital. The fund has played the role of government guiding fund in key areas, effectively supported the continuous growth of innovation power in Shandong’s economic and social development, and helped to consolidate the good situation of seeking progress while maintaining stability and improving quality while keeping moving forward.

Among the investment projects of the provincial fund for the transformation of old driving forces to the new ones in the first quarter, except for 5 shareholding sub-funds, 53 projects are high-growth real industry projects supported by scientific and technological innovation.

By the end of the first quarter, the fund had invested 1,035 projects with an investment value of 115.2 billion yuan, generating 415 billion yuan of investment and financing from social capital.