Singapore's Oversea-Chinese Banking Corporation Ltd launched its first yuan venture capital fund under the Qualified Foreign Limited Partner program, which allows foreign funds to strike venture capital deals in China.
The $1 billion fund will focus on start-ups in industries including agriculture, consumer spending and healthcare.
The yuan QFLP program gives incentives for investors to hold yuan offshore and boosts the currency's global application.
gaochangxin@chinadaily.com.cn
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