综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

   

VC fund to back Binhai economic zone

(Xinhua)
Updated: 2007-12-25 09:53

The China Development Bank (CDB) and the Tianjin Binhai New Area (TBNA) signed an agreement to set up a venture capital fund to boost high-technologies start-ups in the fastest-growing economic zone in North China.

Related readings:
Binhai base for technology transfer
Binhai singled out as country's next economic engine
Tianjin's Binhai New Area, Tangshan sign cooperation agreement
Tianjin's Binhai area pilots insurance reforms

Tianjin's Binhai New Area produces 10 percent of world's mobile phones

The Ministry of Science and Technology (MOST) website, www.most.gov.cn, released Monday the joint efforts to kick off the first government-backed venture capital worth two billion yuan (US$270 million) with equal contributions from the CDB and the TBNA.

The government venture capital corporation is organized within the prevailing corporate framework of Western countries, with a stakeholders' meeting, a board of directors and a supervisors committee, the website said. It also has an investment decision committee and a risk management committee which are expected to try to reach sound investment decisions and control business risks.

Pi Qiansheng, a vice-ministerial official who heads the TBNA administration, said the government funded and operated venture capital would primarily perform as fund of funds, an investment fund that uses an investment strategy of holding a portfolio of other investment funds rather than investing tangible projects.

Pi said that the fund of funds will choose both domestic and overseas outstanding venture capital funds, including private equity funds, to invest. Those selected venture capital funds in partnership will be asked to prioritize their investment portfolio in high-technologies start-ups based in the TBNA. The preferred business areas would be electronics, bio-engineering, new materials, new energy, environmental protection and automated manufacturing.

Pi said the venture capital corporation has a full strategy, including entry and exit plans, for future investment, the website said.

"Our ultimate goal is to push the most competitive start-ups in the area to get a public listing either in home or overseas stock exchanges," Pi said.

The TBNA, consisting of the major ports and tariff-free warehouse areas in Tianjin, has more than 6,300 companies, including over 70 joint ventures with the world's top 500 companies.

The CDB, a policy bank founded by the central government in 1994, is now active in providing venture capital funds in the most rapid growing cities in China. It provides funds for other venture capitals which are interested in investing in rising industries in Beijing, Shanghai, Suzhou, Wuhan and Xi'an.

The Chinese government encourages companies, both State-owned and private-owned, to become the primary forces of innovation. The government dishes out more and more funds of funds and seed funds, which are provided to help a business develop an idea, create the first product, and market the product for the first time.

The MOST is now organizing a nationwide survey on innovation capabilities and competitiveness of start-up businesses. The survey, according to MOST officials, is expected to help understand more precisely how much those fund-thirsty start-ups need.


(For more biz stories, please visit Industry Updates)



台南县| 赤水市| 登封市| 南丰县| 五原县| 壤塘县| 嘉黎县| 岳池县| 鄄城县| 伊春市| 噶尔县| 龙泉市| 彝良县| 苏尼特右旗| 遂溪县| 高邑县| 文成县| 石河子市| 汝阳县| 邵阳县| 锦屏县| 宜君县| 尉犁县| 永州市| 通州市| 获嘉县| 瑞金市| 康定县| 吉安市| 和田市| 印江| 含山县| 襄垣县| 祁门县| 贵港市| 子洲县| 阿合奇县| 尼勒克县| 信阳市| 沧源| 镶黄旗|