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English > Industry > Industry-Breaking News>Government Fund Plans 1.7 Bln Yuan in Grants to Tech SMEs

Government Fund Plans 1.7 Bln Yuan in Grants to Tech SMEs

06-15 13:02 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-06-12/110183577.html

» A central government fund said it plans to extend grants of 1.7 billion yuan to technology-based small- and medium-sized enterprises.
» According to its website, the Innovation Fund said the grants will go to 2,725 projects from the IT, pharmaceutical, new material, new energy, and environment protection sectors.
» The fund, set up in 1998, aims to support technological innovation by certain SMEs by providing financing in the forms of appropriation, loan interest subsidies and equity investments.
» It granted 1.3 billion yuan to 2,113 projects in 2007 and 1.5 billion yuan to 2,470 projects last year.
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