China's Economic Quest for Balanced Internal Economic Development and Global Reach

摘要

The Chinese government recently established a $30 billion venture capital fund. The fund is intended to help Chinese firms as well as the industrial sector to upgrade industrial processes and mature technologies to help make China an innovation and technology powerhouse. The stimulus is intended to allow state-owned enterprises and other Chinese firms to further revitalize and boost their industrial output. The Chinese government desires to create an industrial climate that could foster innovation and technology cluster formations. Chengdu in western China is a city that hopes to exploit this trend and move to establish itself as a leading industrial cluster that could compete with eastern Chinese cities, such as Guangzhou, Shenzhen, and Shanghai.