China has launched a national fund designed to channel state-backed money into early-stage bets on tech, a move officials said could ultimately steer trillions of yuan into preferred avenues of investment.
Beijing’s National Venture Capital Guidance Fund was unveiled on Friday, at a ceremony which also introduced three investment vehicles covering major cross-regional agglomerations: the Beijing-Tianjin-Hebei cluster, the Yangtze River Delta and the Guangdong-Hong Kong-Macau Greater Bay Area.
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