日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

SME fund to invest only in early stage startups

By Zheng Yangpeng (China Daily) Updated: 2015-09-12 12:08

SME fund to invest only in early stage startups

An employee works at a small refrigeration material company in Zouping county, Shandong province. [Dong Naide/China Daily]

The 60 billion yuan ($9.4 billion) State fund for small and medium-sized enterprises will stick to market-oriented operations and invest only in early-stage startups, said an official in charge of the process.

Xu Hongcai, assistant minister of finance, told a news conference on Friday that instead of a monolithic fund, the 60 billion yuan will be embodied in "a web of funds" that leverage private and State-owned companies, financial institutions and local governments, with combined capital of 120 billion yuan to 150 billion yuan.

The State Council on Tuesday revealed plans to set up the national SME development fund to encourage entrepreneurship in the country. To attract more private capital, private investors in the fund will be given priority over government-backed ones in receiving dividends, it said.

In a sign of sticking to the market-oriented operation, the State Council said the Ministry of Finance will only act as a "limited partner" and through open bids select competent, professional funds (private equities, for example) as "general partners", who are responsible for fundraising, establishment, investment, management and exit.

Premier Li Keqiang has warned that the SME fund should not be any bureaucracy's "own pocket", which bureaucrats use to feed enterprises favored by them. An oversight mechanism will be built to examine the performance of these funds.

Xu said as per Li's instruction, the SME fund will not favor companies in any particular industry. Instead, it would look at a wide range of industries with potential growth outlook.

According to Xu, the "web of funds" could be categorized as two groups: One is a "fund of funds", which indirectly invests in equities of SMEs through specific funds; The second will directly participate in seed financing and early-stage financing of specific startups. Both will invite private capital participation.

Seed financing and early-stage financing refer to a period before a startup has grown large enough to attract established venture capital firms.

Credit conditions have remained tight for SMEs, despite a series of policy easing, as banks avoid companies most vulnerable to an economic slowdown. The central government has also expanded preferential tax policies for small companies and reduced their tax burden to boost economic growth and employment.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 久久亚洲综合色 | 香蕉视频2020 | 国产原创视频在线观看 | 亚洲欧美日韩中文在线 | av播播| 老女人连续高潮呻吟 | 久久色资源网 | 日本在线精品 | 亚洲精品合集 | 国内91视频| 色婷婷综合网 | 国产v在线观看 | 亚洲欧美日韩一区 | 久久精品在线观看 | 久久乐精品 | 亚洲图片欧美日韩 | 综合狠狠 | 每日更新在线观看av | 国产精品成人va在线观看 | 日韩亚洲欧美在线观看 | 欧美日韩另类视频 | 日韩在线视频看看 | aaaaaa毛片| 我要看免费的毛片 | 免费黄网在线观看 | 7799视频| 亚洲成人久 | jizz国产精品| 日韩欧美在线中文字幕 | 最新中文字幕在线视频 | 欧美美女一区二区 | 中文天堂在线视频 | 成人av在线网址 | 美女黄页在线观看 | 国产精品视频在线播放 | 激情网五月天 | 天天艹| 欧日韩在线观看 | 久久精品在线观看视频 | 91精品综合 | 国产一区在线观看免费 |