Business news

BEIJING, 15 May (BelTA) – Belarus and China intend to establish a joint venture capital fund by autumn 2017, BelTA learned from Chairman of the State Science and Technology Committee of Belarus Alexander Shumilin on 15 May.

Alexander Shumilin said: “All the main decisions have been made already. We intend to prepare the incorporation documents this summer in order to establish the fund by 1 September. At the same time we will be looking for venture projects in order to finance them using the Belarusian-Chinese fund this year.”

BelTA reported earlier that the State Science and Technology Committee of Belarus, the investment company China Merchants Capital, and SZAO Industrial Park Development Company signed an agreement on key terms of the agreement on creating the China-Belarus venture capital fund Great Stone on 15 May. The Belarusian Innovative Foundation (45%), the China-Belarus industrial investment fund (45%), and Industrial Park Development Company (10%). The fund will be at least $20 million large. The investments will be channeled into high technology industries.