On October 29, the Information Office of Liaoning Provincial People’s Government held a press conference, presenting the details of the province’s efforts to optimize the environment for entrepreneurial investment, and drive the integrated development of entrepreneurship and investment.

Liaoning has encouraged the growth of venture capital institutions to further spur the development of entrepreneurial investment. Specifically, the Department of Finance of Liaoning Province has granted these institutions a maximum of 10 million yuan as a stimulus, based on 1% of their annual additional investment. The province has guided the institutions to manage their venture capital funds in a differential manner, and further encouraged authorities to increase their investment proportion in angel funds and seed funds. To optimize the environment for entrepreneurial investment, the province has established a local project library for entrepreneurial investment enterprises and granted 100,000 yuan to each of the selected professionals. All these measures will further refine the province’s environment for entrepreneurial investment, attracting more venture capital and related talents to Liaoning.

In September this year, Liaoning Fund Investment Co., Ltd. signed agreements with ten institutions represented by ICBC Management Co., Ltd., injecting new impetus into the growth of local entrepreneurial investment. Currently, Liaoning Fund Investment Co., Ltd. has participated in establishing 26 funds of funds (FOF) and underlying funds, with a total subscribed capital scale of 43.7 billion yuan, driving other capitals to increase to 4.7 times their original scale. As the only one provincial-level state-owned capital operation company, Liaoning Holdings Co., Ltd. has built platforms for capital operation, capital integration, and technological and scientific innovation to support the growth of startups and contribute to the development of entrepreneurial investment.

Moreover, Liaoning Equity Exchange Center and Liaoning Jinke Credit Investigation Company have jointly created the “Venture Capital in Liaoning” – Equity Investment and Financing Service Platform, where 516 projects have been exhibited, with a total of 21.1 billion yuan of required financing. The projects focus on emerging fields such as intelligent manufacturing and high-end equipment, new materials, new energy, optoelectronic chips and integrated circuits, demonstrating the sound momentum of the province’s endeavors to develop strategic emerging industries and foster future-oriented industries.