HK Stock Market Move | CHINA CINDA (01359) rose more than 3% and signed a strategic cooperation agreement with Jianxin Trust and other companies to launch a venture capital secondary market fund (S Fund).

China Cinda (01359) rose more than 3%, as of press time, up 2.61% to HK $1.18, with a turnover of HK $424.508 million. On the news front, on February 28, China Construction Bank Corporation held a Technology Finance Promotion Conference and Strategic Cooperation Agreement Signing Ceremony for Entrepreneurial Investment Secondary Market Fund (S Fund) in Beijing. At the meeting, China Construction Bank Corporation's Jianshe Trust and CHINA CINDA and other institutions signed a strategic cooperation agreement for the Entrepreneurial Investment Secondary Market Fund (S Fund), with a total initial scale of 10 billion RMB. It is reported that this move will focus on supporting equity exits for key core technology companies, strengthen the coordination of science and technology funds, and support local science and technology management departments in establishing a normalized cooperation mechanism with branch offices of China Construction Bank, as well as increasing financial support for private technology enterprises. By the end of 2024, China Construction Bank Corporation's strategic emerging industry loans balance exceeded 2.8 trillion RMB, with an increase of nearly 600 billion RMB since the beginning of the year, growing by over 26%, providing strong financial support for the development of new productive forces.