China paves way for major govt influx into venture capital

Hong Kong

CHINA'S government is developing a bigger appetite for venture capital (VC).

The State Council is encouraging more government agencies and companies to funnel money into private startups while getting the state to take part in the nation's technology boom. In a new document published on its website on Tuesday, the country's highest policy overseer urged government-led funds to play a greater role in guiding VC investment, while promising to level the playing field for foreign venture capitalists.