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Beijing launches funds to boost high-tech industries

0 Comment(s)Print E-mail China.org.cn, July 15, 2024
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Beijing recently established eight government investment funds to support high-quality development in key industries by investing in companies with core technologies and strong growth potentials.

These funds target particular various high-tech and innovative areas for investment, including AI, information technology, healthcare, robotics, green energy, and low-carbon technologies.

For example, the government investment fund for AI will support infrastructure projects like chip development and intelligent computing centers, as well as large model development and innovative applications. The healthcare fund will focus on innovative drugs, medical equipment, and issues related to public health safety. The green energy and low-carbon fund will zero in on hydrogen energy, energy storage, and low-carbon technologies.

Companies applying for these funds must be registered in Beijing or commit to relocating to the Chinese capital. They are also required to be high-tech or tech-oriented small- and medium-sized enterprises that align with national and Beijing's industrial policies.

Eligible companies can receive investment from up to two of the newly established funds for each project. Applications are reviewed monthly, with priority given to those submitted by the 15th of each month.

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