China pilots crowdfunding

China is also creating a $40bn Silk Road Fund to invest in projects that guarantee returns from infrastructure and businesses in countries from Asia to Europe.

China’s ruling State Council has said the country will pilot equity-based online crowd funding.

The move is part of what Wang Gang, the science and technology minister, said there were more than 1,000 investment agencies providing $56.8bn for promoting entrepreneurship, including through 115 university science parks and more than 1,600 technology business incubators for 80,000 enterprises.

China will also consider expanding tax policies for venture capital (VC) firms, the State Council, China's cabinet, said in a guideline.

Since 2007, VC firms have enjoyed tax breaks for certain investments in high-tech companies with less than 500 employees and annual sales under RMB200m ($32.6m).

Tax preferences will also be granted for investment in innovative activities in the seed and the startup stages, including investment by angel investors.

China is also creating a $40bn Silk Road Fund to invest in projects that guarantee returns from infrastructure and businesses in countries from Asia to Europe. Con

Investors are in the fund are China Investment Corporation, the Export-Import Bank of China and the China Development Bank.

Separately, China's National Council for Social Security Fund (NSSF) has been given a RMB100bn ($16.3bn) mandate by Shandong province.

See more from this Government Report: People's Republic of China

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