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Hi-Tech Venture Capital Fund Available in ChongqingChongqing in southwest China has set up a venture capital fund aimed to provide guarantee for the industrialization of new and high technologies.The 60-million-yuan fund, the first of its kind in Chongqing, has 50 million coming from the municipal government and the rest from the city's commercial banks. The fund will be jointly managed by the city's planning committee and commercial banks, and will be increased to 100 million yuan by the end of this year. Chongqing has 25 colleges and universities and over 400 scientific research institutes, with tens of thousands of scientific and technological achievements annually. However, only 15 percent of them can be applied to large-scale production due to inadequate investment. A dozen of new and high technological projects have already been applied to large-scale production with the aid of the fund.
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