Initiated by the Cyberspace Administration of China and the Ministry of Finance, the Internet Investment Fund plans to have a scale of 100 billion yuan.
The funds will support Internet innovation in a market-oriented way and support outstanding Internet enterprises.
The starting funds of 30 billion yuan was signed and put in place at the founding ceremony.
China is home to the world’s largest online population, with more than 700 million people using the Internet to study, make purchases, work and access public services.
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