The Maple Leaf Foundation is mainly engaged in public welfare.

As for industrial investment, Lin Feng still needs to think about it.

The biggest problem in the northwest is the high cost of transportation and logistics; second, the lack of large-scale colleges and universities in other provinces and cities except for Xi'an, and the loss of a large number of qualified personnel to the north, Shanghai, Guangzhou, and other metropolises and the southeast coast. The third point is also very core, that is, the concept of the local government is relatively backward compared with the developed areas, and from the perspective of enterprise management, the execution is weak.

It is not so easy to create an industrial depression that can attract external investment and a large number of talents, and the efficient government is beyond Lin Feng's control.

Therefore, in the early stage, Lin Feng could only arrange people to do research first, and then wait for the right time.

…………

Recently, there was an incident that caught Lin Feng's attention.

On July 22, 2009, China's first special plan for cultural industry - "Cultural Industry Revitalization Plan" was deliberated and approved by the executive meeting of the State Council.

This is another important industrial revitalization plan issued after the revitalization plan of the ten major industries such as steel, automobile and textile, marking that the cultural industry has risen to the national strategic industry.

According to the plan, the cultural industries that the state will focus on promoting include: cultural creativity, film and television production, publishing and distribution, printing and reproduction, advertising, performing arts and entertainment, cultural exhibitions, digital content and animation.

Fengxing Group's Internet content business is actually a kind of cultural and creative industry, and it can be said that the implementation of this plan also indicates the trend of further development of the Internet content industry.

Lin Feng knows that in the next few years, the cultural and creative industry is about to usher in a round of explosive development under the vigorous promotion of the state!

In fact, after the outbreak of the global financial crisis, finance, real estate and many traditional industries have been severely impacted, the growth rate of the world economy has declined, and countries around the world are adjusting their economic development strategies and looking for new economic growth points.

The cultural and creative industry has the advantages of high industrial integration, high demand potential, and strong innovation ability, which is in line with the goal of "maintaining growth, expanding domestic demand, and promoting employment" under the new normal. In this context, the cultural and creative industries have increasingly become a new "bright spot" driving China's economic growth.

From a global perspective, the added value of the cultural industry in the United States has reached 818.7 billion US dollars, and the output value of the cultural industry has accounted for 18%-25% of the total GDP of the United States.

From 1996 to 2009, the average annual growth rate of the output value of the British cultural and creative industries was about 6%, while the overall economic growth rate of the United Kingdom was only about 2.8%. In 2010, the UK's thirteen cultural and creative industries were worth more than US$277.5 billion and exported more than US$16.4 billion.

In Asia, Japan's cultural industry is worth more than US$1,107 billion, or about 15% of GDP, while South Korea's cultural industry is worth about US$65 billion, or about 6.2% of GDP.

By 2015, the added value of China's cultural and creative industries increased from 1,105.2 billion yuan in 2010 to 2,723.5 billion yuan, and its share of GDP also increased from 2.75% to 3.82%.

Compared with developed countries, China's cultural and creative industries undoubtedly have huge development potential.

Lin Feng knew that this was a very good opportunity.

For Fengxing Group, it is now a comprehensive Internet platform company.

As a platform, of course, it has occupied an excellent position in the industrial chain, but the Internet itself, like the steam engine and electricity, is the basic information technology means, and the core of the future competition is content.

In particular, Fengxing itself has content genes, whether it is games, music, film and television, literature, etc., it has been laid out in advance.

Moreover, Lin Feng has been laying out the "open platform strategy" for a long time, including the "Ten Hundred Thousand" plan, which is aimed at the initial incubation plan of small and medium-sized startups, and has incorporated a large number of startups into the popular ecosystem early.

It can be said that compared with the other two cultural and creative giants in the future, Wanda and Ali have a very obvious advantage in the early stage of popularity after merging Tencent.

Now, with the help of national policies, Lin Feng believes that it is time to further accelerate the layout of Fengxing's cultural and creative industries.

…………

The driving force of industrial development in the general trend is, on the one hand, policy, and on the other hand, capital.

According to the "Cultural Industry Revitalization Plan", it is clearly required to be guided by the central government's capital injection, absorb state-owned backbone cultural enterprises, large state-owned enterprises and financial institutions to subscribe, and set up a Chinese cultural industry investment fund. In September 2009, the Ministry of Culture issued the "Guiding Opinions on Accelerating the Development of Cultural Industries", proposing to guide, support and regulate the entry of non-public capital into the cultural industry.

In fact, as early as April 2009, the Chinese cultural industry investment fund helmed by "Uncle Li" Li Ruigang passed the approval of the National Development and Reform Commission, with a fund size of 5 billion yuan, becoming the first cultural industry private equity fund to be approved by the National Development and Reform Commission.

The sponsors of the Chinese Media Investment Fund are China Development Bank Capital, a subsidiary of China Development Bank, and Shanghai Oriental Huijin Cultural Industry Investment Co., Ltd. The two families each voted 1/3. Oriental Huijin is a state-owned background, which was jointly established by SMG, Jingwen Investment and Zhangjiang Group.

The remaining 1/3 of the funds were raised by Li Ruigang himself in the market, and he finally won the support of Shenzhen China Merchants Bureau, Dazhong Capital, Wenhui Xinmin Newspaper Group, etc.

In Lin Feng's memory, in the next few years, hundreds of cultural industry funds will spring up in China.

Among them, there are not only national teams, such as the China Cultural Industry Investment Fund funded by the Ministry of Finance, but also regional cultural industry funds led by provincial and municipal governments, as well as listed companies participating in industrial mergers and acquisitions funds, as well as industrial funds set up by large private enterprises or financial institutions.

It is precisely under the superposition of multiple factors such as policy support, economic transformation, consumption upgrading, demographic changes, and Internet technology that capital has begun to compete to intervene in the dream-making field of cultural creativity, which is full of business opportunities.

The influx of these capitals has also promoted the rapid development of the domestic cultural and creative industries.

In the next few years, the cultural and creative industry will be an era of capital carnival!

Since Lin Feng knew about this general trend, he naturally would not let it go, he not only had to actively participate in it, but even make a faster layout.

Because the advantageous content resources are always a minority, the investment target is limited, and the hand is fast and slow......

However, these capital operations, if they are all operated by Fengxing Group itself, on the one hand, it is a bit of putting the cart before the horse, after all, Fengxing is an enterprise, and the core of the company is still the business operation level, not capital operation;

On the other hand, there is also a suspicion of making a big splash.

The best way is to set up a cultural industry investment fund to operate.

However, the establishment of cultural industry investment funds still has big and small problems at the policy level at this stage......

Industrial investment funds are essentially a kind of private equity investment funds, but at this stage in China, compared with private equity investment funds, industrial investment funds still have a strong government-led nature, only to specific institutional investors to raise funds in the form of private placement, mainly to unlisted enterprises for equity investment in the collective investment mode.

Specific institutional investors include enterprises and institutions with state financial appropriations as their main source of funds, state-controlled commercial banks, insurance companies, trust and investment companies, securities companies and other financial institutions, as well as the National Council of Social Security Fund.

In particular, the media and culture field is an industry with relatively strict supervision, and there are many restrictions on capital access in this field.

In 2010, nine ministries and commissions jointly issued the "Guiding Opinions on Financial Support for the Revitalization and Development and Prosperity of Cultural Industries" to encourage diversified funds to support the development of cultural industries and guide qualified insurance companies to participate in cultural industry investment funds;

In June 2012, the Ministry of Culture issued the "Implementation Opinions on Encouraging and Guiding Private Capital to Enter the Cultural Field" to encourage private capital to enter the cultural industry in the form of investment funds.

After the release of these two policy documents, private capital began to enter the field of cultural industry funds on a large scale.

Of course, for the current Lin Feng, there is enough prestige, background, resources and to test the water in advance, but it is just necessary to communicate with the relevant competent authorities, and at the same time, pull in some "partners" with state-owned backgrounds.

In this context, after the establishment of the cultural and creative industry investment fund, Lin Feng even has a certain opportunity to invest in some projects that could not be invested, such as projects involving the restructuring of traditional cultural enterprises.

Lin Feng's idea of setting up a cultural industry fund was expressed to the top through some channels, and it really attracted the attention of relevant parties.

After all, Lin Feng was different from ordinary businessmen.

Not to mention that he is the most successful outstanding entrepreneur in China in recent years, and he also has a relatively high reputation and influence in the world, and is a world-class billionaire.

It has been popular in many aspects, and has actively cooperated with the policies of the competent authorities, and recently, it has just donated 10 billion yuan through private foundations for public welfare and charity in the western region.

The relevant parties have always been very concerned about and vigorously supported Lin Feng.

Soon, people from the Ministry of Finance and the Ministry of Culture came to Fengxing Group for research and consultation.

Through Inston, there are also many second-generation people in high positions in large state-owned financial institutions, who are more interested in the cultural industry investment fund that Lin Feng is going to set up, and they are also working hard to promote this project behind the scenes through various resources.

Lin Feng's "reputation" is still good in the circle, he doesn't eat alone, and his interests are evenly distributed.

After a period of communication and promotion from many parties behind the scenes, in January 2010, the "Fenghua Cultural and Creative Industry Investment Fund" planned by Lin Feng was finally approved by the National Development and Reform Commission.

The main sponsors and investors of Fenghua Cultural and Creative Industry Investment Fund are: Fengxing Group, China Development Bank Capital, Bank of China Holdings, China Merchants Capital, Ne Horizon, Lin Feng, etc. The target size of the fund is 10 billion yuan, and the initial fundraising is 6 billion yuan, of which Fengxing Group will invest 2 billion yuan in the initial stage, China Development Bank Capital will invest 1 billion yuan, Bank of China Holdings will invest 1 billion yuan, China Merchants Capital will invest 500 million yuan, Ne Horizon will invest 500 million yuan, and Lin Feng will invest 1 billion yuan through a private company (Maple Leaf Holdings).

In the course of future operation, the fund will also attract other capital, including VC/PE.

Fenghua Cultural and Creative Industry Investment Fund will adopt a limited partnership system to establish an operational structure in which fund investors set up funds, fund managers manage and operate fund assets, and fund custodians keep fund assets.

The fund will mainly invest in the fields of press and publication, radio, film and television, culture and art, network culture, culture and leisure, and its subdivided culture and related industries in the form of equity investment, and provide market-oriented financing such as growth capital, corporate restructuring and management buyout for target companies.

With the establishment of Fenghua Cultural and Creative Industry Investment Fund, Lin Feng also found its first investment target in the market - Caixin Media.