(Reuters) - The Chinese government will give money to some venture capital investment firms in its latest effort to boost the development of what it labels strategic emerging industries.
According to a new policy published by China's Ministry of Finance over the weekend, the government is prepared to be a minority shareholder in a venture capital fund if the fund focuses on startups in designated sectors from environment protection to new-energy vehicles.
The policy, co-developed with China's economic planning agency, is meant to "accelerate the implementation of emerging industry investment plans," the finance ministry said.
To read the full, original article click on this link: Beijing to fund VCs to aid local hi-tech | Reuters
