<div id="readability-page-1"><div>China on Friday launched three venture capital funds to invest in &#34;hard technology&#34; areas, state broadcaster CCTV reported.The capital contribution plans for the funds have been finalised, each with more than 50 billion yuan ($7.14 billion), according to the report.The funds will primarily invest in early-stage startups and the targets should be valued at less than 500 million yuan, an official said on Friday, adding that no single investment would amount to more than 50 million yuan.The funds' expected targets include firms focused on integrated circuits, quantum technology, biomedicine, brain-computer interfaces, aerospace and other key hard technologies. &#34;Soft&#34; technologies would include internet services.($1 = 7.0070 Chinese yuan)</div></div>

QMCO

China has launched three venture capital funds, each exceeding 50 billion yuan, to invest in 'hard technology' sectors such as integrated circuits, quantum technology, and aerospace. These funds will target early-stage startups valued under 500 million yuan, with individual investments capped at 50 million yuan. This initiative aims to bolster China's technological advancements in key areas.

China launches venture capital funds to invest in 'hard technology', state media report