May 15, 02:28 AM

China Launches $138 Billion Venture Capital Fund With Special Bank Credit Mechanism to Boost Tech Innovation

China's Ministry of Science and Technology has announced a comprehensive plan to accelerate the development of a technology finance system aimed at supporting high-level scientific and technological self-reliance. Central to this initiative is the establishment of a national venture capital guidance fund valued at approximately USD 138 billion. The plan includes setting up a special mechanism to provide bank credit support for science and technology innovation, expanding capital market support for tech innovation enterprises, and broadening the scope of pilot programs for equity investment. Multiple government bodies, including the Ministry of Science and Technology (MOST), People's Bank of China (PBoC), State Administration of Foreign Exchange (SAFE), China Securities Regulatory Commission (CSRC), National Development and Reform Commission (NDRC), Ministry of Finance (MOF), and State-owned Assets Supervision and Administration Commission (SASAC), have issued policy measures to accelerate the construction of this science and technology financial system. These efforts align with China's broader goal of achieving greater self-sufficiency and leadership in strategic technology sectors.

#China #MOST #PBoC #SAFE #China Securities Regulatory Commission #CSRC #NDRC #Ministry of Finance #MOF #SASAC

Written with ChatGPT (GPT-4).

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