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Private Savings A Huge Pool of Capital: Economist
A leading Chinese economist has assured players to explore China's capital market, saying 12 trillion yuan (1.45 trillion US dollars) in private money will become the main source of venture capital.
Xiao Zhuoji, professor at Peking University, said at a lecture here over the weekend that it will not be a big problem since the Chinese have 6.7 trillion yuan in bank savings and more than one trillion yuan in cash, among others.
A small part of the huge savings will be a big amount when it enters the venture capital market, the professor said.
Xiao urged that laws and policies be improved to encourage private money to invest in venture capital, which he predicted would bring about big earnings.
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