Hangzhou’s Binjiang District won the “Special Contribution Award” at the 2020 “Zhejiang Phoenix Awards” ceremony on May 30. The new award was created to reward districts and counties of Zhejiang province that have done an excellent job in industrial upgrading through M&A over the past year. Shaoxing’s Shangyu District and Ningbo’s Yinzhou District also win the award.
Under the guidance of Zhejiang Financial Supervision Administration, Zhejiang Investment and M&A Association inaugurated the annual “Zhejiang Phoenix Awards” in 2018 at the city’s Baishaquan M&A Street. Experts from regulatory units, public companies, professional institutions and universities will discuss and decide the award winners.
The press conference on May 30 also announced the province’s top 10 IPOs of the year, top 10 M&A events of the year and best service organizations of the year, as well as released the “2019 Zhejiang Capital Market Development Report” and the “2020 Baishaquan China M&A Annual Report.”
Baishaquan M&A Street, which opened in October 2017, was gentrified from an urban village in the West Lake District. With the focus of providing offices for M&A service firms, the street is the first of its kind in Zhejiang. The combined registered capital of the 476 firms of the area exceeds CNY 19.1 billion, and the assets under management reach over CNY 189 billion. The street has contributed CNY 312 million worth of tax.
Besides hosting events like the “Zhejiang Phoenix Awards,” the street also holds Baishaquan M&A Global Summit and release Baishaquan China M&A Index every year.