ECONOMY

China Launches $14 Billion State Fund to Back Strategic Tech Industries

Published: Dec. 26, 2025 5:53 p.m. GMT+8

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China on Friday officially launched a national venture capital guidance fund, injecting 100 billion yuan ($14 billion) in central government capital and aiming to mobilize 1 trillion yuan to support companies in strategic emerging and future industries, including semiconductors and biotechnology.

The fund is expected to fill funding gaps in capital-intensive hard tech sectors with long development cycles.

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China launched a national VC fund with 100 billion yuan ($14 billion) in central capital, targeting to mobilize 1 trillion yuan for strategic industries like semiconductors and biotech.
The fund prioritizes seed- and startup-stage firms with valuations under 500 million yuan, capping individual investments at 50 million yuan, and operates on a 20-year timeframe.
It uses a three-tier structure, channels most investments through sub-funds, and focuses on regions like Beijing-Tianjin-Hebei, Yangtze River Delta, and Greater Bay Area.

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