Japan plans to tap the $1.5tn might of the world’s biggest pension fund to build a desperately needed domestic start-up culture after decades of failure by the country’s financial sector.
Unveiling the “grand design” of Prime Minister Fumio Kishida’s “new capitalism” agenda, his cabinet this week announced a push for the huge Government Pension Investment Fund to increase funding for start-ups.
The move to invigorate the start-up sector is part of Kishida’s economic programme, a hodgepodge of promises to invest in human capital, decarbonisation and technology that has been criticised for a lack of clarity.
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