Recently, the signing ceremony for the strategic cooperation framework agreement between Shanghai Municipality and the National Council for Social Security Fund (NCSSF), along with the unveiling ceremony for the National Investment Sci-Tech Fund, was held in Shanghai. The National Investment Sci-Tech Fund was jointly established by the National Social Security Fund, China Development and Investment Group, China Construction Bank, Bank of Communications, Shanghai State-owned Assets Operation Co., Ltd., and Pudong Venture Capital, with a total scale of 10 billion yuan. The establishment of this fund represents a significant initiative to thoroughly implement the national innovation-driven development strategy, innovate sci-tech financial services, and fully leverage the advantages and roles of long-term capital and patient capital. It holds great importance for Shanghai's development of new quality productive forces, the construction of a modern industrial system, and the promotion of coordinated development between Shanghai's international financial center and international sci-tech innovation center.
Currently, Shanghai is accelerating the construction of its international financial center and international sci-tech innovation center. Sci-tech finance is a key instrument for serving the national innovation-driven development strategy. Bank of Communications Shanghai Branch consistently adheres to its strategic positioning as the "Shanghai home field," actively aligns with major strategic deployments, and precisely channels financial resources to nurture sci-tech enterprises, supporting breakthroughs in key core technologies and the growth of innovative industrial clusters. Leveraging resources from its head office and the professional platform of Bank of Communications Investments, the branch deeply integrates into national strategies, regional development, and group layouts, continuously exploring a marketing and service system for private equity funds with Shanghai's regional characteristics, and promoting synergistic efforts between sci-tech finance and fund business.
In this instance, the branch acted as the custodian bank for the fund, participating fully in its preparation, launch, and operational support, providing a solid foundation for the fund's smooth operation through professional and efficient financial services. This cooperation represents a further deepening of the collaboration between the branch and the NCSSF in the field of equity investment. Previously, the two parties had successfully launched the Social Security Fund Yangtze River Delta Sci-Tech Innovation Equity Investment Fund, accumulating mature experience in serving regional sci-tech upgrades and supporting the real economy. The successful launch of this 10-billion-yuan sci-tech fund further confirms Bank of Communications' professional strength and market recognition in the fields of sci-tech finance and equity fund custody.
Looking ahead, Bank of Communications Shanghai Branch will continue to leverage its comprehensive financial advantages, deepen cooperation with the National Social Security Fund and various industrial capitals and sci-tech platforms, continuously improve the sci-tech financial service ecosystem, and contribute to the high-quality development of Shanghai's sci-tech industry and national technological self-reliance and strength with superior financial solutions.