At 4 pm on September 20, AVIC Rongfu Fund Management (Beijing) Co., Ltd.(“Rongfu”), one of subsidiaries of AviChina, held an opening ceremony at its headquarters. Representatives of AVIC, AviChina Rongfu attended the ceremony.

On April 24, 2018, Rongfu completed the business registration obtained the license, meaning AVIC military-civilian integration fund starting to operate.

AVIC military-civilian integration fund is an important way for AVIC to integrate military-civilian promote production, making more direct powerful use of social resources, boosting the development of related industries, accelerating the formation of all-factors , multi-fields high-efficiency deep development pattern of military-civilian integration. It is reported that AVIC will no longer set up group-level industrial funds in the future. Based on the tens of billions of aviation high-tech industry resources of AVIC, the fund will have the priority investment advantage, attracting more attention to its prospects from the market. At present, a number of large state-owned financial institutions, including insurance, banking other sectors, have expressed their intention to subscribe to the fund. The raising scale of the first phase reached RMB 10 billion.

AVIC has identified the military-civilian integration as a key measure to deepen reform. Therefore, AVIC capitalized attracted funds in various way to set up AVIC military-civilian integration fund, seeing it as a platform to build a large-coordinated new model. After the establishment of Rongfu, it will be responsible to set up manage the fund, which will become an important platform for AVIC to implement the national strategy of military-civilian integration.