The newly-amended Several Policies and Measures of Qingdao on Supporting the Building of a Venture Capital Center was recently printed and released. According to the new policies, 24 highly effective measures have been rolled out in an innovative way, such as stepping up rewards for capital attraction to advance the strategy of investment and talent attraction, adding S fund trading bonus to expand equity investment exit channels and adding a size-based reward to cultivate the leading institutions.

The amendment is highlighted by persistently stepping up rewards and subsidies.  Particularly, any institution that introduces a pre-IPO company can be entitled to a maximum of RMB4mln reward, and no cap will be imposed on rewards and subsidies for every venture capital institution.

Furthermore, it is worth mentioning that the new policies clearly stipulate that two-way opening up of venture capital market will be pushed forward in an orderly manner, and foreign-funded institutions such as solely foreign-funded private security investment fund management companies, foreign-funded equity investment management companies and foreign-funded equity investment companies can be subject to rewards according to the criteria for domestic-funded companies.  (Fu Jun)