On January 20th, central enterprise venture capital funds were established like mushrooms after rain. On January 18th, China News Corporation, together with some central enterprises and local state-owned assets, held a signing ceremony for the cooperation of the China News Venture Capital Fund in Beijing. The initial scale of the fund is 10 billion yuan, and a number of sub funds such as Hangzhou, Hunan, and Xi’an will be launched. Recently, science and technology innovation funds such as Guobing Xiangxin Development Fund and Chengtong Science and Technology Innovation Investment Fund have also been established. Industry insiders believe that leveraging the role of central enterprise venture capital funds, acting as long-term and patient capital, is conducive to promoting the concentration of incremental funds towards strategic emerging industries and providing a “source of vitality” for cultivating strategic emerging industries.
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