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BEIJING (Reuters) - China's top economic planner said on Friday that it had launched venture capital funds totaling 9 billion yuan ($1.32 billion) jointly with several provincial governments and private investors to support the country's growing high-tech sector.

Investments will focus on electronic and information industries, the biological and pharmaceutical sector and environmental and energy-related projects, the National Development and Reform Commission, the powerful planning agency, said in a statement on its website (

China sets up state-backed high-tech VC funds