State Council Announces 60 billion Yuan Start-up Investment Fund

On September 20, the State Council announced the creation of a 60 billion yuan investment fund to promote small and medium-sized enterprise (SME) development, with an emphasis on making seed investments in start-ups.

Of the total, 15 billion yuan will be provided directly by the Ministry of Finance, while the remainder is slated to come from state-owned enterprises, private enterprises and regional governments. According to the State Council press release, the investment fund aims to operate according to market principles, attracting private investors to the growth potential of China's SMEs.