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On January 18, China Reform Holdings inked a cooperation agreement in Beijing for the Guoxin Venture Capital Fund with several central and local state-owned enterprises. This fund boasts an initial size of 10 billion yuan and envisages the establishment of sub-funds in Hangzhou, Hunan, Xi'an, and other regions. Recently, other funds such as the Guobing to New Development Fund and the Chengtong Scientific and Technological Innovation Investment Fund have also been sequentially established. Industry experts emphasize that as long-term and patient capital, the venture capital funds of central enterprises play a pivotal role in steering incremental funds towards strategic emerging industries, thereby providing sustained financial backing for their cultivation and growth.
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