New cooperation aims to spur high-tech investment

The National Development and Reform Commission (NDRC) has agreed to begin working alongside China Development Bank (CDB) and the Shenzhen Stock Exchange to support the development and innovation of high-tech enterprises, Xinhua reported (in Chinese). The NDRC, China's top planning agency, signed memoranda of understanding with CDB and Shenzhen Stock Exchange. Under the agreements, CDB will invest US$10.7 billion in the country's high-tech sector over the next five years and the Shenzhen Stock Exchange will launch a new growth enterprise board in a bid to support high-tech companies.