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China proposes new measures to attract VC investment

China plans new measures to boost venture capital in its tech sector, including from overseas. International investors can set up yuan funds for domestic investments, while qualified institutions will be encouraged to issue corporate bonds and debt financing instruments. State-owned enterprises will be urged to invest in industry leaders with advanced technologies. China prioritises technological self-sufficiency to advance domestic chip design and manufacturing against US policy threats. In 2023, venture capital investment in China fell over 7% to USD69.9bn, the lowest in four years, amid economic and regulatory concerns, according to Preqin Ltd.


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