July 16, 2007 -- China’s Ministry of Finance announced that the state will begin a 100 million RMB ($13.2 million) venture capital fund to encourage high tech start-ups. Although individual municipalities inside China have already launched similar (and often larger) funds, this particular fund is a first for the national government. The fund will operate like an incubator, providing investors with risk subsidies and investment guarantees. It will consider investments in all high tech areas, including biotech. More details...
