China's 1st HR fund to use new tech to integrate and upgrade the industry
China International Intellectech Corporation and Real Power Capital Tuesday launched a human resources fund that will be the first to invest in the human resources industry in China.
The fund sets a 3 billion yuan (US$468 million) target and has already received pledges of 800 million yuan from investors for the first issue.
"This fund will take in more high quality investors and partners to promote the integration and upgrading of the human resources industry and new technologies, and help companies being invested in to gain stronger competitive advantages," said Cheng Feng, chairman of Real Power Capital.
The fund will actively adopt innovative and high-tech measures such as big data and artificial intelligence to further enhance the services offered in the domestic human resources industry, according to CIIC and Real Power Capital.
Human resources is among the sunrise industries in China as market demand for high quality human resources personnel continues to growing. By 2020, the overall size of the domestic human resources market is predicted to exceed 2 trillion yuan.