• Chongqing -- an Emerging Private Equity Market
  • March 2, 2010 | Authors: Calvin Ding; Peter A. Neumann; Dawn (Dan) Zhang; Wenjing Zhao
  • Law Firm: Greenberg Traurig, LLP - Shanghai Office
  • In recent years, the Chinese government, both at the national and local levels, has taken a series of initiatives designed to promote private equity (PE) and venture capital (VC) investment in the PRC. Through these measures, the government hopes to take advantage of the positive effects that private investments provide in order to accelerate the develop of Chinese domestic enterprises. For example, in October 2009, the National Development and Reform Commission, the Ministry of Finance and seven provincial and municipal governments initiated the New Industry Venture Plan, which combined the efforts of both the national and local governments in tandem with private investors (including foreign investors) in the establishment of VC funds in a pilot program.