Beijing's four government funds distribute 3.56 billion yuan in Q1

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In the first quarter of 2024, Beijing's four municipal-level government funds established at the end of 2023 distributed a total of 3.56 billion yuan, according to Beijing State-owned Capital Operation and Management Company.

These funds are dedicated to areas such as artificial intelligence, medicine and health, robotics, and the information industry, with the goal of fostering scientific and technological innovation and the development of high-tech industries. 

Investments from the four funds went into 36 projects by the end of the first quarter. Among the companies receiving investment, 22 are innovative small-and medium-sized enterprises, eight are nationally recognized "little giant" firms, and four are unicorn enterprises. 

The funds have supported innovation and business startups, as well as applications of key technologies in the four major sectors. These have provided targeted support for enhancing industrial chains, seeking breakthroughs of key technologies, and helping to cultivate new quality productive forces, according to a fund manager. 

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