China Launches $21B Tech Funds to Boost Self-Reliance, Target Early-Stage Innovation

• China launched three national venture capital funds totaling over $21 billion to advance tech self-reliance.
• Each fund exceeds 50 billion yuan ($7.1 billion), with 70% dedicated to seed and early-stage companies.
• Investments are capped at 50 million yuan per company, targeting firms valued under 500 million yuan.
• Funds are located in Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao Greater Bay Area, initiated by NDRC and MOF.
• Focus on "emerging pillar industries" like integrated circuits, aerospace, and biomedicine, acting as "angel investors".

Why It Matters: China invests over $21B in new tech funds to drive self-reliance and early-stage innovation.