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