The General Office of the State Council issued a number of policies and measures to promote the high-quality development of venture capital.

A few days ago, the General Office of the State Council issued a number of policies and measures to promote the high-quality development of venture capital (hereinafter referred to as "policy measures").
Guided by Xi Jinping's thoughts on socialism with Chinese characteristics in the new era, the "Policies and Measures" fully implement the spirit of the 20th National Congress of the Communist Party of China, fully, accurately and comprehensively implement the new development concept, focus on promoting high-quality development, and focus on venture capital. "The whole chain, further improve the policy environment and management system, actively support venture capital to become bigger and stronger, and give full play to the important role of venture capital in supporting technological innovation, in accordance with the principle of market-oriented rule of law, we should guide venture capital to stabilize and increase investment in key areas, strengthen the dominant position of enterprises in innovation, and promote the growth of science and technology-based enterprises. to provide strong support for the cultivation and development of new quality productive forces, the realization of high-level scientific and technological self-reliance, and the shaping of new kinetic energy and new advantages for development.
The Policy Measures identify five key initiatives. The first is to cultivate diversified venture capital investors. Accelerate the cultivation of high-quality venture capital institutions, support the development of professional venture capital institutions, give full play to the role of government-funded venture capital funds, and implement and improve the state-owned venture capital management system. The second is to broaden the sources of venture capital through multiple channels. Encourage long-term capital investment in venture capital, support asset management institutions to increase investment in venture capital, expand the pilot scope of direct equity investment by financial asset investment companies, and enrich the types of venture capital fund products. Third, strengthen government guidance and differentiated supervision of venture capital. We will establish a docking mechanism between venture capital and innovative and entrepreneurial projects, implement a plan for patent industrialization to promote the growth of small and medium-sized enterprises, continue to implement preferential tax policies for venture capital enterprises, and implement differentiated supervision in line with the characteristics of venture capital funds. we will expand the opening up of venture capital to the outside world in an orderly manner. Fourth, improve the venture capital exit mechanism. Broaden the exit channels for venture capital and optimize the exit policy for venture capital funds. Fifth, optimize the venture capital market environment. Optimize the development environment of the venture capital industry and create a good financial ecology to support scientific and technological innovation.
The "Policies and Measures" require all regions and departments to carefully organize and implement, improve working mechanisms, strengthen overall coordination, and jointly promote the implementation of various measures to promote the high-quality development of venture capital.

Source: Xinhua News Agency