An investment fund supported by the National Social Security Fund of China was launched in Shanghai. The first phase of the fund is an impressive amount of $707 million. According to the announcement of the city authorities, the investment fund, which is managed by the company IDG Capital, is aimed at supporting innovation in Shanghai and the Yangtze River Delta region.
It is noted that the fund will actively invest in strategic sectors such as integrated circuits, biopharmaceuticals and life sciences, artificial intelligence, new energy vehicles, high-tech equipment and advanced materials.
