| |
 |
SZ targets venture capital
|
SHENZHEN will channel 50 billion yuan (US$6b) into companies committed to innovative businesses and technology development in the next five years, said Wang Shouren last week.
Wang, secretary-general of Shenzhen Venture Investment Association, the local trade guild of venture capital firms, believes the city's tech future is bright.
“With the launch of the technology-heavy second board market, Shenzhen will become one of the major venture capital centres in China in the near future,” he said.
Venture capital investment has already become a dynamic industry in Shenzhen with total capital reserves of one billion yuan, according to Wang. There are currently over 200 venture capital firms bolstering venture businesses worth over 280 million yuan.
“With strong development in the local technology sector and a mature financial system in Shenzhen, the city is well-equipped to marry the two strengths to generate even greater productivity for the city.”
According to Wang, the association will push for passage of related laws and regulations as part of its effort to create a sound environment for venture business development in Shenzhen.
|
|
|
|
