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China's new $15bn tech fund emulates SoftBank's Vision Fund

THE story of China Merchants Group began in the 1870s. After its defeats in the Opium wars, the Qing government tried to learn from the West by adopting foreign technology and encouraging new commercial ventures, including China Merchants. The banking-to-shipping conglomerate, based in Hong Kong, has since evolved into one of China's largest state-owned enterprises, with $1.1trn in assets.

Fittingly, its latest endeavour again involves looking westward for new technologies. On July 1st it announced that its investment arm and other China-based investors would put 40bn yuan ($6bn) into a 100bn yuan venture-capital (VC) fund, the China New Era Technology Fund.

Antone L. Huges

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5 Comments

Marsh

NOVEMBER 9, 2013 AT 9:15 PM

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Marsh

NOVEMBER 9, 2013 AT 9:15 PM

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud

Reply

Marsh

NOVEMBER 9, 2013 AT 9:15 PM

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud

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