Hangzhou Industrial Investment Group

What Hangzhou Industrial Investment Group does

Hangzhou Industrial Investment Group Co., Ltd. (杭州市实业投资集团有限公司) is a wholly state-owned industrial investment platform under the supervision of the Hangzhou Municipal Government and Hangzhou SASAC, established in 2001 with 60 billion RMB registered capital. The group operates as the city's principal industrial investment holding company, deploying state capital across Hangzhou's "296X" advanced manufacturing cluster strategy through a "1 digital platform + 100 billion RMB mother fund + 4 industrial investment platforms + 4 external investment centers" architecture. As of 2025, the group reports 136 wholly-controlled subsidiaries, total assets exceeding 1 trillion RMB, FY2025 operating revenue of 278.8 billion RMB, and consolidated profit of 41 billion RMB, ranking #394 on the Fortune Global 500 for the second consecutive year.

The group's business spans four interlocking segments: (1) industrial investment across 470+ direct and fund-invested projects covering low-altitude economy, synthetic biology, visual intelligence, AI, new energy, new materials, and semiconductors via dedicated funds (30 billion RMB low-altitude fund, 10 billion RMB synthetic biology fund, 10 billion RMB China Vision Valley Fund, 20 billion RMB Nongyin AIC Fund); (2) industrial park operations across LOFT49, Renhe Li, and Hangzhou Industrial Innovation Center spanning 400,000+ square meters; (3) commodity trading via wholly-owned subsidiary Relian Group (热联集团), which operates 46 overseas locations and generated 899.3 billion RMB cumulative international trade volume by 2024; and (4) future industries, anchored by Hangzhou Low-Altitude Company managing 14 public landing sites across 10 districts and the Hangzhou Low-Altitude Comprehensive Management Service Platform 2.0. The portfolio retains heritage brands (Zhang Xiaoquan, Maoyuanchang, Wang Xingji) alongside industrial leaders (Hangcha Group, Zhongce Rubber, Jinyu Electric, Xizi Clean Energy).

The group is currently repositioning itself as an "Industrial Organizer" (产业组织者), connecting technology, capital, scenarios, and enterprises across Hangzhou's industrial base. Its proprietary technology stack includes the "实业智投" (Industrial Intelligent Investment) digital investment platform launched in 2023, the VDS vertiport intelligent operating system, and a national-first 2,000P "peacetime-warfare integrated" underground intelligent computing cluster leveraging civil defense infrastructure. Revenue is generated through investment returns, fund management fees, commodity trading margins, industrial park leasing, and low-altitude service guarantees, with key partnerships spanning Agricultural Bank of China, Hangzhou Bank, HKSTP, and various Hangzhou municipal bureaus.

Name

Hangzhou Industrial Investment Group

Legal name

杭州市实业投资集团有限公司

Website

https://hziam.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Hangzhou Industrial Investment Group is a Hangzhou Municipal Government state-owned industrial investment platform that deploys state capital across advanced manufacturing, future industries (low-altitude economy, synthetic biology, AI), industrial parks, and commodity trading, managing 136 subsidiaries, over 1 trillion RMB in total assets, and 278.8 billion RMB in FY2025 revenue.

Ownership category

akta.pro rank

Product category

State-Owned Industrial Investment Holding

NAICS

Management of Companies and Enterprises (55111), Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

akta.pro secondary industry

Industrials & Manufacturing Growth Equity (FSANACAF)

Keywords

• Industrial investment management
• State-owned investment group
• Commodity trading services
• Industrial park operations
• Low-altitude economy platform

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Industrial Investment Returns: Hangzhou Industrial Investment Group generates returns through equity investments in industrial enterprises, fund management fees, and capital gains from portfolio companies. The group has invested in over 470 direct and fund-invested projects across strategic emerging and future industries including low-altitude economy, synthetic biology, visual intelligence, and new materials.
2. Commodity Trading (热联集团): The group's subsidiary 热联集团 (Relian Group) generates revenue through international and domestic commodity trading and industrial services, forming a 'multi-product, multi-mode, multi-location' trading pattern. 热联集团 achieved 899.3 billion RMB in international trade volume by 2024, with 46 overseas locations. January to May 2025 international trade exceeded 302 billion RMB.
3. Industrial Park Development and Asset Management: The group operates and manages industrial parks including LOFT49, Renhe Li, and Hangzhou Industrial Innovation Center with over 400,000 square meters of operational and in-construction industrial park space. Revenue comes from leasing, property management, and value-added services.
4. Low-Altitude Economic Services: Hangzhou Low-Altitude Company generates revenue through low-altitude flight service guarantees, low-altitude infrastructure operations, and low-altitude economy industry cultivation. The company operates 14 landing sites with 38 routes and completed over 8,000 flights in the first half of 2026.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Hangzhou Industrial Investment Group operates as a state-owned industrial investment platform with registered capital of 60 billion RMB, deploying capital across Hangzhou's 296X advanced manufacturing clusters via 670+ industrial funds totaling 600+ billion RMB. The group runs an integrated ecosystem spanning direct industrial equity investments, commodity trading through subsidiary 热联集团 (Relian Group) with 46 overseas offices, industrial park operations (LOFT49, Renhe Li, Hangzhou Industrial Innovation Center) covering 400,000+ sqm, and a city-level low-altitude flight management platform operating 14 landing sites and 38 routes.

Product overview

Hangzhou Industrial Investment Group operates as a comprehensive industrial investment platform with a '1 digital platform + 1 hundred-billion parent fund + 4 major industrial investment platforms + 4 external investment centers' investment ecosystem. The core product is the 实业智投 digital investment platform, which serves as the 'intelligent brain' for industrial investment management. The group manages multiple specialized sub-brands including: the Low-Altitude Industry Investment Fund (30 billion yuan) and China Vision Valley Fund (1 billion yuan Phase 1) for strategic industry investments; the Hangzhou-Hong Kong Science & Technology Innovation platform for cross-border collaboration; and operates three core industrial parks (LOFT49 for cultural/creative industries, Renhe Li for precision manufacturing, and Hangzhou Industrial Science & Technology Innovation Center for R&D). The group's low-altitude economy business is anchored by the Hangzhou Low-Altitude Comprehensive Management Service Platform, which provides city-level unified management for drone operations.

Differentiator

Problem solved

Functional benefit

Brands

• 实业智投: Industrial investment digital platform and brand for Hangzhou Industrial Investment Group's investment operations, launched in 2023 with a 10 billion yuan mother fund.
• 杭州低空

Products and services

• 实业智投 (Industrial Intelligent Investment) Digital Platform
• Hangzhou Low-Altitude Comprehensive Management Service Platform
• Low-Altitude Industry Investment Fund (低空产业投资基金)
• China Vision Valley Fund (中国视谷基金)
• Hangzhou Synthetic Biology Industry Fund (聚力杭实合成生物产业基金)
• LOFT49 Creative Park
• 仁和里 (Renhe Li) Industrial Park
• 杭实科创中心 (Hangzhou Industrial Science & Technology Innovation Center)
• 热联集团 (Relian Group) - International Commodity Trading
• Hangzhou Innovation Incubator Center (Hong Kong)

Quantifiable outcome

• Ranked 394th in Fortune Global 500 in 2025, up from first listing in 2024. Total assets grew from 600 billion RMB in 2020 to over 100 billion RMB in 2025.
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Xiaoshan District Government (萧山区)coreStrategic or Co-development Partner · 15 June 2026Hangzhou Industrial Group Secretary Niu Jian led a delegation to Xiaoshan District for a special research on low-altitude economy. Both parties discussed strengthening collaboration on low-altitude industry attraction and cultivation, fund investment cooperation, and co-establishing a low-altitude economy industrial park. Xiaoshan's intelligent management platform '一网统飞' and Hangzhou Low-Altitude Company's intelligent connected platform will be integrated.
• Xidian University Hangzhou Research Institute (西安电子科技大学杭州研究院)coreStrategic or Co-development Partner · 12 June 2026Xidian University Hangzhou Research Institute showcased core capabilities in six low-altitude economy areas: electromagnetic defense technology, UAV detection and countermeasures, intelligent sensing and multi-source fusion technology. Both parties agreed to explore deep cooperation in technology achievement transformation, low-altitude park development linkage, and zero-carbon park co-construction.
• Hangzhou Municipal Bureau of Economy and Information Technology (市经信局)coreStrategic or Co-development Partner · 9 June 2026Hangzhou Municipal Bureau of Economy and Information Technology and Hangzhou Industrial Group held discussions on 'AI+Manufacturing'. They agreed to cooperate on building an 'Industrial AI Innovation Center', promoting 'AI Factory' star rating and 'Digital Transformation Coupon' policy implementation, and establishing a regular cooperation mechanism for China-Africa digital technology collaboration.
• Hong Kong Science and Technology Parks Corporation (HKSTP)coreStrategic or Co-development Partner · 1 June 2025Hangzhou Industrial Group is a strategic partner in the HKSTP Co-Acceleration Programme, Hong Kong's first-ever Public-Private Partnership in innovation and technology. The programme focuses on Generative AI, Intelligent Connected Systems, and Sustainability sectors, with over 100 mainland China startups to be referred to the ecosystem for global expansion.
• Hangzhou Xiaoshan District Low-Altitude Economy Industrial ParkminorStrategic or Co-development Partner · 1 June 2025Hangzhou Industrial Group established a low-altitude economy industrial park with Xiaoshan District, jointly developing the industrial ecosystem for low-altitude economy through the '区县合作' model.
• Hong Kong SAR Government / InvestHKcoreStrategic or Co-development Partner · 22 April 2025Hangzhou Industrial Group signed a cooperation memorandum with InvestHK during the Hong Kong Investment Promotion Conference. The group will use Hong Kong as a platform to 'go global' and as a base to expand overseas business. This followed Hong Kong Chief Executive John Lee's visit to Zhejiang in April 2025 where Group Secretary Niu Jian reported on Hangzhou-Hong Kong cooperation progress.

Scale indicators10 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Shanghai Industrial Investment (Holdings) Co., Ltd. Hong Kong-listed Chinese municipal state-owned industrial investment holding company managing industrial, pharmaceutical, and infrastructure assets. Closely comparable structure as a Chinese city-level SOE industrial investment platform with diversified operating subsidiaries and strategic investment mandates.
• Beijing State-Owned Capital Operation and Management Company: Municipal SOE under Beijing SASAC overseeing state-owned capital operation, equity investment, and industrial development. Directly comparable as a Chinese city-level state-owned capital operator with similar strategic investment mandate.
• Guangzhou Industrial Investment Holdings Group: Guangzhou municipal state-owned industrial investment group with portfolio spanning advanced manufacturing, emerging industries, and industrial parks. Directly comparable as another tier-1 Chinese city SOE industrial investment holding company with similar ecosystem-building role.
• Shenzhen Investment Holdings: Shenzhen municipal SOE investment holding company with portfolio across technology, finance, and strategic industries. Directly comparable as a tier-1 Chinese municipal SOE with industrial investment focus.
• Legend Holdings: Chinese diversified investment holding company (parent of Lenovo) with strategic investments in advanced manufacturing, AI, and emerging industries. Comparable as a Chinese-headquartered holding company deploying capital across strategic emerging industries through both operating subsidiaries and fund investments.

Broad incumbents

• China Reform Holdings Corporation: Central SOE (SASAC-controlled) focused on state-owned equity investment and restructuring. Comparable as a much larger state-owned capital operator with similar mandate to deploy strategic capital into Chinese industrial upgrading, though at national rather than municipal level.
• State Development & Investment Corporation (SDIC): One of China's largest central state-owned investment holding companies with diversified investments across industries including advanced manufacturing, new energy, and biotechnology. Comparable as a much larger state-owned strategic investor, though national in scope rather than municipal.
• CITIC Group: One of China's largest conglomerates with diversified operations across finance, industry, and resources. Comparable as a state-backed Chinese investment holding with industrial parks, manufacturing subsidiaries, and strategic investments — though at much larger scale and national scope.
• China International Capital Corporation (CICC): Major Chinese investment bank with significant asset management and direct investment operations. Comparable as a Chinese state-affiliated investment firm deploying capital across strategic industries, though primarily through financial intermediation rather than direct industrial organization.

Regional players

• Beijing Capital Group: Beijing municipal SOE with portfolio in infrastructure, real estate, and industrial operations. Comparable as another major Chinese municipal state-owned industrial holding group, though Beijing-focused rather than Hangzhou-focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments18 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hangzhou Industrial Investment Group