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WSJThe Chinese government will joining local governments and private investors in setting up VC funds in an attempt to boost high-tech growth in the country, Dow Jones Newswires reports. These funds are aiming to raise at least CNY250 million ($36.7 million), and according to the State Council’s Web site, the government will not be the controlling shareholder. Its stake will be capped at 20%, except in the case of angel funds.

China To Invest In Venture Capital Funds