DeHeng Advised Shenzhen Bao'an District Government Guidance Fund
on the Co-Initiation of the Infrastructure Investment Fund
for the Emerging Maritime Industry Base in Shenzhen
2019-04-19
Recently, the partnership agreement of the Shenzhen Emerging Maritime Industries Base Infrastructure Investment Fund (Phase I) was signed, indicating the establishment of the Shenzhen Ruitong Maritime Industry Base Structural Optimization Fund Partnership (Limited Partnership). The first phase of the Fund will leverage 4 billion yuan. The Fund is of the structural design and will leverage up to 12.5 billion yuan in the long run, all of which will be invested in the sea reclamation and land ripening for the Emerging Maritime Industry Base in Shenzhen. The partners of the first phase of the Fund are ABC Financial Assets Investment Co., Ltd., Shenzhen Gongyin jinsheng Investment Center (Limited Partnership), the Shenzhen Government Investment Guidance Fund, Bao'an District Government Guidance Fund, Shenzhen SEZ Construction and Development Group, and Shenzhen Maritime Investment Management Co., Ltd.
The Emerging Maritime Industry Base is situated in the middle of the eastern bank of the Pearl River Delta and the northwest of the planned greater airport area, and has obtained the approval from the State Council and the certificate of the right to the use of sea areas from the State Oceanic Administration. In line with the market-oriented reform, Shenzhen mobilized the government guidance funds and social capital to co-initiate the Shenzhen Emerging Maritime Industries Base Infrastructure Investment Fund, and by so doing, leveraged the government investment’s guiding role and attracted extensive social capital to invest in infrastructure construction in Shenzhen.
The Emerging Maritime Industry Base represents a key move for Shenzhen to pioneer the implementation of the strategy of building a maritime powerhouse, accelerate the building of a global maritime central city, and strengthen its role as the core engine for the Guangdong – Hong Kong – Macao Greater Bay Area. In the Outline of the Development Plan for the Guangdong – Hong Kong – Macao Greater Bay Area issued last February, the CPC Central Committee and the State Council made it clear to strengthen cooperation between Guangdong, Hong Kong and Macao by coordinating the offshore and maritime development in a scientific way, create more space for the blue economy, and support Shenzhen’s initiative in building a global maritime central city.
As the legal counsel of Bao'an District Government Guidance Fund, DeHeng formed a project team led by Su Qiyun and Huang Lei, partners of the Shenzhen office, with primary support from lawyer Qiu Haijin and paralegal Chen Lisi, provided professional, premium and efficient legal services for its successful co-initiation of the Shenzhen Emerging Maritime Industries Base Infrastructure Investment Fund.
