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Zhangjiang Hi-Tech Park Development Unit Forms 200 Million Yuan Partnership; Shares Up 5%

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Shanghai Zhangjiang Hi-Tech Park Development (SHA:600895) said its unit, Zhangjiang Haocheng Venture Capital, will jointly establish a 200-million-yuan joint venture, Shanghai Haoju Puchuang Enterprise Management Partnership, with Shanghai Pudong Leading Area Investment Center.

Zhangjiang Haocheng Venture Capital will contribute 100 million yuan as a limited partner, while Zhangjiang Haoke Technology Development will contribute 1 million yuan as a general partner, according to a Tuesday filing with the Shanghai bourse.

The 10-year partnership will focus on strategic emerging industries, including integrated circuits.

Shares of the real estate developer rose nearly 5% in recent trade.

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