China sets $2.6b VC fund to back startups in strategic sectors

China sets $2.6b VC fund to back startups in strategic sectors

U.S. 100 dollar banknotes and Chinese 100 yuan banknotes are seen in this picture illustration in Beijing, China, January 21, 2016. REUTERS/Jason Lee

China has launched a new national venture capital fund that will back up startup companies in new sectors of strategic importance, the Xinhua reported.

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