Investment Updates News
- 100m fund for technology firms
Date: 18-Jul-2007 Sources: (Shenzhen Daily)
THE Ministry of Finance said Monday it will form a 100 million yuan fund with the Ministry of Science and Technology to take stakes in venture-capital organizations and invest alongside them in small and medium-sized technology companies, the Ministry said in a statement.
China has been promoting the development of a domestic venture-capital industry focused on the technology sector to provide an alternative to traditional bank lending. The new fund also follows a slowdown in the pace of foreign venture-capital investment in China after new regulations made it harder for domestic firms to restructure into offshore entities, which were the preferred investment targets of foreign venture-capital companies.
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