BEIJING, Dec. 12 (Xinhua) -- A venture capital foundation aiming to raise money for China's small businesses was launched Saturday to help relieve their financing hardships.
The China Association of Small and Medium Enterprises and the Shenzhen Junsheng Capital, a leading private equity and asset management company, will jointly operate the foundation.
In the initial phase, the fund aims to raise 1 billion yuan (147 million U.S. dollars), with 2 billion more to be collected after the road show completed, said Li Zibin, chairman of the association.
Original Article: China launches venture capital foundation for small businesses_English_Xinhua
