On October 8, Hangzhou officially launched the equity investment pilot area of the Asset Investment Company (AIC), and signed the cooperation agreements with AIC under the management of five banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications. Having the intended landing fund scale of 90 billion yuan, it becomes the first city in China to fully cooperate with the AIC under the management of five banks.

Hangzhou is making every effort to build five major industrial ecosystems including intelligent internet of things, biological medicine, high-end equipment, new materials and green energy. Such cooperation provides stronger financial support for the accelerated promotion of the industry.