China to Launch National SME Development Fund Phase II

TREE NEWS update: China’s Ministry of Industry and Information Technology and nine other departments issued the 15th Five-Year Plan for Promoting SME Development, which includes establishing the second phase of the National SME Development Fund to guide social capital towards early-stage, small, long-term, and hard-tech investments. The plan also strengthens support for SME listings, deepens the ‘Specialized, Refined, Distinctive, and Innovative’ board on regional equity markets, and promotes bond financing through a ‘tech board’.