#Shenzhen issues draft action plan to promote venture capital development, brings up “Bold Capital” for first time to encourage investment https://t.co/73g2IcUfKk
Shenzhen-based companies rally after govt released action plan for promoting venture capital development, eyes tn-yuan govt fund cluster https://t.co/JdYREgElu4
After hoping to attract “patient capital”, Shenzhen city is promising “daring capital” to make private equity deals. (大胆资本了）…
Shenzhen, China, is set to enhance its financial landscape by aiming for over 10,000 registered equity and venture capital funds by 2026. The city plans to establish a modern capital market characterized by high market economy standards and strong innovative capacity. In a move to attract foreign investment, Shenzhen has opened its telecom and data center markets to international players. Additionally, the city will support private firms in leading national scientific tasks and will further open national research infrastructure to private companies. The local government has introduced an action plan to promote venture capital development, which includes the introduction of 'Bold Capital' to encourage investment in private equity deals. Following the announcement of this action plan, Shenzhen-based companies have seen a rally in their stock prices, indicating positive market sentiment towards the government's initiatives.
