NDRC: Leveraging National Venture Capital Guidance Fund to Drive Social Capital Toward Early-Stage, Small, Long-Term and Hard-Tech Investments

The National Development and Reform Commission held a press conference in its "Striving for the 15th Five-Year Plan" series to outline efforts to foster and strengthen new growth drivers. Ren Zhongbao, deputy director of the Department of Innovation and High-Tech Development at the NDRC, said in response to a reporter's question that future industries have long development cycles and high market risks, requiring the government to increase investment while improving risk-sharing mechanisms. He said the NDRC will give full play to the demonstration role of the National Venture Capital Guidance Fund, prioritizing investment in future-industry companies at the seed, startup, and early-to-mid growth stages, using patient capital to support industrial innovation and encourage social capital to invest early, in small companies, for the long term, and in hard technology. The NDRC will also work with relevant parties to expand policy support such as financing guarantees and risk compensation, and develop dedicated products such as technology insurance to better protect the development of future-industry companies. (Securities Times)