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Shenzhen Promulgated First Venture Capital Regulations
Interim regulations of venture capital on high-tech industry, the first of its kind and another important measure Shenzhen has taken to set up the venture capital market system, was promulgated by Shenzhen Municipal Government recently.
According to the interim regulations, capital venturer whose investment on Shenzhen high-tech industry and other technological innovative industry exceeds 70% of its total will enjoy the relevant preferential policy with the approval from technology executive department of the municipal government. Besides Shenzhen Property Rights Exchange Center is accountable to provide the qualified service to venture investment equity transformation and support the venture capital exit through overseas alternative stock market.
The interim regulations also requires the different levels of the People's Government to aggressively broaden the market entering channels and encourages enterprises, financial institutions, individuals and foreign merchants to develop the business of venture capital.
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