Following the news of China's startup-focused $6.5bn fund launch, Global Government Venturing editor James Mawson looks back at the country's efforts to bolster venture capital.

It is nearly 30 years since China’s central government effectively set up the country’s first venture capital company.

The past week’s decision by China’s State Council to set up a RMB40bn ($6.5bn) government venturing fund to back startups is a good opportunity to look both at the evolution in the country and in approaches to state-support venture capital.

Back in 1986, China started its New Technology Venture Investment Corporation (CNTVIC), majority-owned by China’s State Science and Technology Commission and Ministry of…