BEIJING, Dec 26 (Reuters) – China on Friday launched three venture capital funds to invest in “hard technology” areas, state broadcaster CCTV reported.
The capital contribution plans for the funds have been finalised, each with more than 50 billion yuan ($7.14 billion), according to the report.
Hard technology refers to areas including semiconductors over “soft” technology such as internet services.
($1 = 7.0070 Chinese yuan)
