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VC Fund Established in Shanxi

The signing ceremony of Cooperation Agreement on Venture Capital Fund in Shanxi Province was staged in Taiyuan, the Capital of Shanxi Province on June 12. With a total steering fund of RMB800million, the Fund will attract over RMB2billion from domestic and overseas organizations to establish sub-funds. On behalf of their respective agency, Director-General CHI Jianxin of Investment Banking Department of China Development Bank (CDB) and DG LIAN Yimin of Shanxi S&T Department signed the agreement, with an investment of RMB400million from each side. As the first steering fund established jointly by CDB and the provincial government, it will greatly facilitate the startup and growth of S&T enterprises.