China launches multibillion-dollar state-backed VC funds to accelerate tech innovation
China has unveiled a national venture capital guidance fund and three major regional VC funds to boost early-stage investment in domestic tech companies. Announced Friday, the initiative is part of a broader strategy to channel trillions of yuan into strategic technologies, including semiconductors, AI, and biotech. The effort also aligns with policy goals to strengthen the nation’s self-reliance in core technologies amid ongoing geopolitical tensions and tech competition with the U.S.
This move signals China’s intent to deepen state involvement in tech funding and shape the trajectory of global tech innovation.
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