Yangzhou takes further steps to attract venture capital firms

Over 100 Yangzhou companies and more than 10 prestigious venture capital institutions attend a conference in Yangzhou on Nov 15. [Photo/chinanews.com]

A conference for industry and capital funding was held in Yangzhou, Jiangsu province on Nov 15, attracting over 100 Yangzhou companies and more than 10 prestigious venture capital institutions.

The conference's aim was to promote integrative development among industries, finance and capital.

Since 2007, the Yangzhou government has invested 460 million yuan ($66.3 million) and launched 15 marketization funds, worth approximately 4.4 billion yuan, with fund management agencies such as Oriental Fortune Capital and SAIC Capital Co Ltd.

Thanks to the government's efforts, a total of 19 local companies have been listed on the Shanghai and Shenzhen stock exchanges, along with 65 being listed in the New Third Board, or National Equities Exchange and Quotation (NEEQ) system, including Yangjie Technology and Jiangsu Yawei Machine-Tool Co Ltd.

Chen Yang, vice mayor of Yangzhou, said he hopes to see more banking institutions settle down in Yangzhou and offer more support for private companies in the real economy to boost local economic development.