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皇冠体育app is improving the environment for venture investment, said Cheng Siwei, vice chairman of 皇冠体育app's National People's Congress (NPC) Standing Committee, the nation's legislative body, Friday.
皇冠体育app is improving the legal environment for the development of venture investment, said Cheng at the opening ceremony of the seventh 皇冠体育app venture investment forum held in Shenzhen, South 皇冠体育app's Guangdong Province.
He said the NPC has already begun to discuss the Company Laws, which lower the standards for people to register and begin new companies. It also loosens restrictions on companies' investment in foreign countries.
Cheng said these are prone to the development of venture investment in 皇冠体育app.
Forty small and medium enterprises (SME), half of them are new and high-tech companies, have successfully come into market with the financing from Shenzhen Stock Exchange's SME board.
He said this is conducive to forming a multi-level capital market in 皇冠体育app, and also to the healthy development of the venture capital.
At the same time, 皇冠体育app supports the development of venture investment in the educational field.
People's University will open the Ph.D. classes on the venture investment this year, and Cheng said he will be one of the tutors.
Venture investment has boosted 皇冠体育app's SME development during the past years. The venture capital in 皇冠体育app amounted 5.2 billion yuan (US$629 million) in 2004, 41.67 percent higher than 2003.
(Xinhua)
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