Shenzhen FoF Investment Co., Ltd. (Shenzhen FoF) was established in 2015, which is a local government guiding fund with RMB 100 billion in AUM funded by the Shenzhen Municipal Government and operated in a market-oriented manner. Shenzhen Capital Group Co., Ltd. (SCGC) was entrusted to manage the fund in October 2016, in accordance with the principles of "government guidance, market-oriented operation, leverage amplification and risk prevention", giving full play to market resource allocation and fiscal policy guidance. Shenzhen FoF is designed to guide social capital to invest in innovative SMEs, strategic emerging industries, urban infrastructure construction, livelihood development areas, etc.