China has launched a $2.6 billion venture capital fund that will target energy conservation and environmental protection.
China has been tightening environmental laws to curb high levels of pollution, encouraging investors in sustainable energy and pro-environment opportunities.
A government-led venture capital fund will also back information technology and manufacturing ventures.
The new fund was launched by the Ministry of Finance, the National Development and Reform Commission, and the State Development and Investment Corporation.
Eighty percent of the fund will focus on early-stage startups, the rest on more mature private companies.
State-backed venture capital funds raised more than $230 billion in 2015.
