Hylands Assists in the Successful Filing of the First Textile and Garment Industry Fund in Aksu Region and the First Company-based Industry Fund in Xinjiang

On May 12, 2022, the Aksu Region Textile and Garment Industry Development Fund Limited (hereinafter referred to as " Aksu Textile and Garment Fund") was successfully filed with the China Securities Investment Fund Association. Hylands Law Firm (hereinafter referred to as "Hylands") served as the legal advisor for Xinjiang New Dynamic Equity Investment Management Co., Ltd, the administrator of Aksu Textile & Garment Fund, and provided legal services for the entire project. 

Aksu Textile and Garment Fund was launched and established by Aksu Regional Finance Bureau, with Aksu Regional Green Industry Development Co., Ltd. acting as the financier and Xinjiang New Dynamics Equity Investment Management Co., Ltd. Furthermore, the Xinjiang New Dynamics Equity Investment Management Co., Ltd. as the manager, with a fund size of RMB 1 billion. Aksu Textile and Garment Fund was launched and established by Aksu Regional Finance Bureau, with Aksu Regional Green Industry Development Co., Ltd. acting as the financier and Xinjiang New Dynamics Equity Investment Management Co., Ltd. Furthermore, the Xinjiang New Dynamics Equity Investment Management Co., Ltd. as the manager, with a fund size of RMB 1 billion. Aksu Textile & Garment Fund, as the first parent fund to guide the textile and garment industry in Aksu region and the first company-based industrial fund in Xinjiang, is expected to play a leading role in optimizing the business environment and developing the local industrial economy in Aksu region through the fund to guide industrial development under the leadership of local government of Aksu region. 

Hylands has formally established its Urumqi Office in early March 2022 at 37/F, Tower 1B, Greentown Plaza, Shuimugou District, Urumqi. With the support of the Urumqi Office, Hylands will better serve Xinjiang and provide multi-level, three-dimensional and professional legal services to enterprises and customers in Xinjiang. 

The legal service team of Hylands in the Project was coordinated by Partner Wenhao DONG and performed by Siqing LUO. The team has engaged in all stages of the Project and provided legal services including drafting, reviewing and revising documents for the filing of this private equity product.