Harbin sets up fund to back small companies
Harbin has launched a fund to promote the development of small and medium-sized companies.
The development fund, with a total investment of 150 million yuan ($21.77 million) by the municipal government, will be used to facilitate development of companies that develop new technologies, advanced business models and have huge potential.
The fund would make equity investments in companies doing business in the agricultural, industrial, and science and technology sectors, focusing on returns just like any private investment fund would do.
Unlike establishing investment and financing platforms, the Harbin government set up the fund to directly invest capital into companies and share risk with them.
The autumn schedule for power grid maintenance in Harbin, Northeast China’s Heilongjiang province concluded on Oct 30.
The High People’s Court of Heilongjiang province officially launched Thunderbolt Action.
About 10 government departments in Daoli district, Harbin, Heilongjiang province, carried out joint enforcement June 1 to remove more than 20 illegal constructions with a total area of over 2000 square meters to advance an expropriation project.
Harbin has seen a dramatic reduction in traffic congestion, according to statistics released by Amap, a Chinese navigation service provider.