China's Ministry of Science and Technology says the signing ceremony for the Cooperation Agreement on Venture Capital Fund in Shanxi Province has been held in Taiyuan.

With a total fund of CNY800 million, it is expected to attract over CNY2 billion from domestic and overseas organizations who plan to establish sub-funds. Directors-General Chi Jianxin of the Investment Banking Department of China Development Bank and Lian Yimin of Shanxi Science and Technology Department signed the agreement, with an investment of CNY400 million from each side.

As the first steering fund established jointly by CDB and the provincial government, it plans to facilitate the startup and growth of science and technology enterprises in the province.