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Anhui Development and Investment
Yang Jun chairs Anhui Development and Investment, the provincial SASAC vehicle directing Anhui's industrial, venture, and infrastructure capital...
Anhui Development and Investment
Controlled by the Anhui Provincial Government via its State-owned Assets Supervision and Administration Commission (SASAC), the group operates as the province's primary investment and industrial development platform. Chairman Yang Jun concurrently leads Anhui Conch Cement, China's largest cement producer, highlighting the group's dual posture as both an industrial operator and a financial allocator. The structure is typical of Chinese provincial investment holding companies — a parent entity consolidating state equity across disparate operational units. Capital deployment spans venture capital, real estate, infrastructure, and industrial holdings. Through Anhui High-tech Investment Co., chaired by Xu Xianlu, the group provides seed through growth-stage capital to technology and manufacturing startups aligned with provincial economic priorities. The Anhui Industrial Development Fund acts as a dedicated onshore vehicle for strategic co-investments. In real assets, the group controls Zhong'an Innovation Valley, a mixed-use innovation district in Hefei, and Conch Holdings Hotels, a portfolio of commercial hospitality properties across the province. Beyond its core holding in Anhui Conch Cement, the group's reach extends into healthcare, advanced materials, and renewable energy via subsidiary investment arms. The firm does not publicly disclose total assets under management or aggregate deployment figures. Its Hefei headquarters centralizes governance for operations concentrated entirely within Anhui province, a region that has aggressively courted electric-vehicle and semiconductor manufacturing clusters. The structural differentiator is the group's hybrid identity — it is neither a pure financial investor nor a standalone operating conglomerate. It functions as a provincial development finance institution that holds active management control over portfolio companies rather than passive minority stakes. This grants SASAC direct operational authority over strategic Anhui enterprises, blurring the line between state fiscal policy and corporate investment activity.
General information
Firm type
Generalist
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Hefei
Corporate office
Hefei, Anhui, China
Principals
Yang Jun
Chairman, Anhui Provincial Investment Group
Xu Xianlu
Chairman, Anhui High-tech Investment Co., Ltd.
Sector focus
Frequently asked questions
Who ultimately controls Anhui Development and Investment?
The Anhui Provincial Government through its State-owned Assets Supervision and Administration Commission (SASAC) is the ultimate controlling shareholder. This places the group within China's multi-tiered state-capital system, where provincial SASACs manage operating entities distinct from central-government SOEs. Yang Jun serves as chairman of the group and concurrently leads Anhui Conch Cement, the publicly listed industrial flagship.
What is the relationship between Anhui Development and Investment and Anhui Conch Cement?
Anhui Development and Investment is the controlling state shareholder of Anhui Conch Cement, China's largest cement producer by output. Yang Jun chairs both entities, reflecting the group's role as active industrial operator rather than passive financial holder. This connection anchors the portfolio's heavy-industry exposure and provides stable cash flows that likely support venture and development-fund activities elsewhere in the group.
Does Anhui Development and Investment invest directly in startups?
Yes, primarily through Anhui High-tech Investment Co., which Xu Xianlu chairs. That subsidiary targets seed through growth-stage companies in technology and advanced manufacturing. The Anhui Industrial Development Fund provides additional direct-investment capacity, offering co-investment and fund-commitment firepower for strategic sectors the province aims to cultivate domestically.
What geographic footprint does the group maintain?
Operations are concentrated entirely within Anhui province, with headquarters in Hefei. The group does not maintain disclosed offices outside mainland China, consistent with its mandate as a provincial development vehicle rather than an outward-facing sovereign fund. All known real-asset holdings — including Zhong'an Innovation Valley and Conch Holdings Hotels — are located in Anhui.
How does Anhui Development and Investment source its deal flow?
Deal flow derives from the group's embedded position within Anhui's provincial industrial-planning apparatus. As the SASAC-controlled investment platform, it receives preferential access to state-directed opportunities in strategic sectors and can originate transactions through operating subsidiaries like Conch Cement. The provincial government's aggressive push to build EV, semiconductor, and advanced-manufacturing clusters in Hefei likely channels proprietary opportunities to the group's venture and development-fund arms.
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