The latest monthly report released by the Asset Management Association of China (AMAC) shows that by the end of July, the number of funds managed by private fund managers registered with AMAC in Qingdao exceeded 2,000, reaching 2,029, ranking the second in China in terms of growth rate.

The Global (Qingdao) Venture Capital Center in Qingdao [Photo/Guanhai News]

The fund management scale in Qingdao reached 179.73 billion yuan ($26.49 billion), and its growth rate ranked third in China.

According to the AMAC's report, by the end of July, the average management scale of private fund managers in Qingdao reached 421 million yuan, an increase of 22.29 percent, or 77 million yuan compared with the same period last year. 

By the end of June, venture capital institutions had invested in 1,422 projects in Qingdao, which involved investments of 105 billion yuan.

The continuous optimization of the management structure of private fund managers in Qingdao has achieved obvious results in supporting the real economy, showing a good trend of rapid development, and ensuring low-risk operations, according to industry insiders.

Qingdao stays committed to building a global venture capital center. It has held the Qingdao Global Venture Capital Conference four times, which is designed to build a matchmaking platform for venture capital institutions and enterprises, and support the transformation of scientific research achievements.