(Yicai Global) July 10 -- JC Finance & Tax Interconnect (JCFTI) Holdings Ltd. [SHE:002530] will set up a headquarters for its interconnect data center business, which will include an artificial intelligence (AI) research institute, in Suzhou Industrial Park (SIP). It will also work with the industrial park to establish an industry merger and acquisition (M&A) fund.
JCFTI signed a strategic cooperation framework agreement with the management committee of the industrial park on July 7 to jointly launch smart finance and tax services, said the service provider today.
Per the agreement, JCFTI will set up an industry M&A fund with an initial investment of CNY1.5 billion (USD220 million), it said. Suzhou Industrial Park State-Owned Assets Holding Development Co. will contribute CNY300 million to the fund.
The industrial park will support JCFTI and its wholly-owned subsidiary, Foresee Science & Technology Co., in establishing a data center business headquarters in the park and will help them access the resources needed for project operation and apply for the relevant licenses.
Per public information, Foresee Science & Technology is the country's only successful bidder to build the State Administration of Taxation's tax service software system.