China prepares next phase of national SME fund to boost tech start-ups and IPOs

China will soon launch the second phase of a National SME Development Fund with a focus on IPO incubation and channelling private capital into backing innovative, early-stage entities and projects with long-term prospects in hard tech. The fund’s second phase was confirmed as the Ministry of Industry and Information Technology (MIIT), together with nine other ministries and agencies, released China’s 15th five-year plan for promoting the development of small and medium enterprises (SMEs). The...