The total number of fund and fund management companies in Huaqiao reached 126 with 67 newly established companies this year. The overall money raised totals over 30 billion yuan ($4.81 billion).

Many fund and fund management companies have settled in Huaqiao in the past two years. The Kunshan Cross-Straits Development Fund was the first of them, raising 1.23 billion yuan within one year of establishment. The company has invested in four projects and is expected to see economic returns of over 3 billion yuan.

"Huaqiao is developing its private equity industry to agglomerate capital and serve Huaqiao, Kunshan and the Yangtze River Delta area," said Gu Zhirong, director of the financial industry development office of the Huaqiao Economic Development Zone.

Edited by Michael Thai and Li Xiaoliang