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Itochu and Citic plan $1.8bn fund to usher Japan startups into China

Chinese conglomerate looks to attract cutting-edge tech amid trade war

Itochu and Citic will work with Tsinghua University's investment unit on the fund.

TOKYO -- Japanese trading house Itochu is teaming up with China's state conglomerate Citic to launch a 200 billion yen ($1.8 billion) venture capital fund. Their goal: to nudge Japanese startups into the Chinese market.

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