A risk investment company has recently been set up in Changchun, capital of northeast China's Jilin Province, to support the growth of small high-tech firms which have difficulty securing loans and financial guarantees.

The company, the first of its kind in northeast China, was launched by the Jilin provincial government on December 15.

Initial investment in the company is 32.5 million yuan (US$about 3.9 million), but another 70 million yuan (US$8.4 million) is expected over the next to three years.

The general manager of the company, Zhang Xiaoping, said his firm will also provide consulting services.

Similar companies have been set up in Beijing, Shanghai, Shenzhen and a few other cities, Zhang said.