National Development and Reform Commission: The National Venture Capital Fund will promote the establishment of over 600 sub-funds in three regions.

Director of the Innovation-Driven Development Center of the National Development and Reform Commission and Chairman of the National Venture Capital Guidance Fund Co., Ltd., Huo Fupeng, stated at a special news conference of the National Development and Reform Commission that the first three regional funds of the National Venture Capital Guidance Fund are ready for operation, and it is expected that a batch of key sub-funds and direct investment projects will be completed in the near future. In the future, the guidance fund will promote the establishment of more than 600 sub-funds in three regions to serve the development of emerging industries and future industries.