China launches national venture capital guidance fund

China launched the national venture capital guidance fund on Friday, with three regional funds established and operational.

The fund was established by the National Development and Reform Commission and the Ministry of Finance, giving play to the leading role of centrally-administered funds and attracting social capital to participate.

At present, the fund has invested in the establishment of three regional funds: Beijing-Tianjin-Hebei Venture Capital Guiding Fund, Yangtze River Delta Venture Capital Guiding Fund and Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guiding Fund.

Three regional funds have established a number of intentional sub-funds and direct investment projects in integrated circuits, quantum technology, biomedicine, brain-computer interfaces, aerospace, and so on.

"In terms of capital scale, the capital contribution plan for the first batch of three regional funds has been settled. In the future, each fund will exceed 50 billion yuan (about 7.11 billion U.S. dollars), and investments and contributions will be made in batches. At present, all three regional funds have signed partnership agreements, completed business registration, and established a preliminary list of the first batch of 49 sub-funds and 27 direct investment projects pending signing. Several key sub-funds and direct investment projects are expected to be finalized in the near future," said Huo Fupeng, president of the National Venture Capital Guidance Fund, at the launching ceremony.

At the ceremony, an official stated that the fund is projected to reach a trillion-yuan scale.

⁠⁠⁠⁠⁠⁠⁠China's film market has sustained strong growth in 2025, with domestic and animated films leading the chart. The box office earnings have so far reached 51.2 billion yuan (about 7.2 billion U.S. dollars), with 1.22 billion tickets sold throughout the year, according to a report by China Media Group (CMG) on Friday. Domestic productions took center stage, grossing more than 42 billion yuan (about 5.98 billion U.S. dollars) and claiming nine spots in the annual top 10 box office ranking. Animated films also had a stellar year, amassing over 25 billion yuan (about 3.56 billion U.S. dollars) in revenue, which accounted for almost half of the total market earnings.