Zhejiang Province set up a venture capital guidance fund (VC324) for SMEs to "quench thirst"

In order to alleviate the shortage of funds for some SMEs, the Zhejiang Provincial Department of Finance, the Provincial Local Taxation Bureau, and the Provincial Financial Office have issued a series of new measures in the areas of finance, taxation, and financial support to "quench thirst" for SMEs.

It is understood that in order to alleviate the funding shortage of some SMEs, the Zhejiang Provincial Department of Finance, the Provincial Local Taxation Bureau, and the Provincial Finance Office have issued a series of new measures in the areas of finance, taxation, and financial support to "quench thirst" for SMEs.

In order to support the development and growth of technology-based SMEs in the initial stage and growth period, Zhejiang Province has financed private capital to attract venture capital and set up a venture capital guidance fund. According to Qian Juyan, director of the Zhejiang Provincial Department of Finance, currently, eight venture capital guidance funds total 750 million yuan, with a total fund size of 2.6 billion yuan. Zhejiang Province also invests in venture capital enterprises in equity investment in unlisted small and medium-sized high-tech enterprises for more than 2 years, according to 70% of its investment amount, the venture capital enterprise should be deducted from the investment in the year when the equity holding has been completed for 2 years. The amount of taxable income.

Since 2011, the multiple pressures of rising raw material prices, rising labor costs, and turbulence in the international market have made Zhejiang small and medium-sized enterprises struggling. In some places, even small and medium-sized enterprises have run into difficulties, capital chains are tight, and business owners have run away. Whether it can continue to promote the healthy development of SMEs is related to the overall economic and social development. At present, we should take the opportunity of standardizing private credit to accelerate the reform of the financial system, broaden the channel of liquidity to the real economy, and effectively ease the financing difficulties of SMEs.

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