China has officially launched a national venture capital fund and three large regional funds, together worth billions of dollars, as part of a push to foster home-grown tech champions and improve investment efficiency.

**The National Startup Investment Guidance Fund**, as well as the three vehicles covering the Beijing-Tianjin-Hebei region, the Yangtze River Delta and the Greater Bay Area, began operating on Friday, according to Xinhua News Agency.

This initiative marks a significant step in China's strategy to boost its technology sector and support startups across key economic regions.

China has officially launched a national venture capital fund and three large regional funds, together worth billions of dollars, as part of a push to foster home-grown tech champions and improve investment efficiency.

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