By emphasizing long-term, “patient” investments, the initiative aims to support high-tech startups through every stage of their development — from initial research to full-scale industrialization.
Hangzhou’s Runmiao Fund, with an initial size of 2 billion yuan ($290 million) and a 20-year lifespan, focuses on providing first-round financing for early-stage technology firms.
Zhejiang’s economy is heavily driven by privately owned manufacturers, making the province a bellwether for broader trends in China’s entrepreneurial industrial sector.
Exports to the European Union rose about 70%, shipments to ASEAN markets increased 1.4 times, and deliveries to Latin America surged more than sixteenfold.
