Xi'an to Creat CNY500mn VC Investment Guidance Fund
A[b] CNY 500 million [/b]venture capital (VC) investment guidance fund will be created by the Xi'an High Technology Development Zone [b]in the coming four years[/b], according to sources from a recent conference on promoting the venture capital investment in the zone.The fund is the local authorities' efforts to encourage more VC firms and VC investment management firms to set feet in the zone. The administrative committe of the zone inked strategic cooperation agreements with DFJ Dragon Fund and China Science & Merchants Venture Capital Management Co., Ltd.
[b]VC firms and VC investment management firms in the High Technology Development Zone will gain subsidies equivalent to 50% of the taxes it paid attributed to the zone, and the chairmen of the board and general managers in those companies, 10%[/b].
In addition, VC firms and VC investment management firms, founded under the joint efforts of representative investors of the zone with VC firms or VC investment management firms, are to enjoy the above-mentioned preferential policies.
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