On October 28th, Guotai Haitong revealed that its fully-owned subsidiary, Guotai Haitong Kaiyuan Investment Co., Ltd., has plans to collaborate with Shanghai International Group Asset Management Co., Ltd. (a wholly-owned subsidiary of Shanghai International Group Co., Ltd., which is the actual controller of Guotai Haitong) and other entities to establish the Shanghai Linghang Science and Technology Innovation Fund Partnership (tentative name). The fund is projected to have a total committed capital contribution of 20 billion yuan, with Guotai Haitong Kaiyuan contributing 4 billion yuan and International Group Asset Management investing 2 billion yuan. Guotai Haitong Kaiyuan will assume the role of the fund manager and executive partner, while ICBC Capital Management Co., Ltd. will also serve as a co-executive partner. The fund will specifically allocate its investments to lower-tier funds that have undergone review and received approval from the partners' meeting. These lower-tier funds will concentrate on pivotal sectors including next-generation information technology, high-end equipment manufacturing, new materials, biomedicine, artificial intelligence, and the digital economy.