In the current wave of scientific and technological innovation, national industrial funds and social capital are highly anticipated. State-level industrial funds and private capital, with strong resources and strength, firmly support the development of specialized, specialized, special and new "little giants" and high-tech enterprises, provide them with the necessary "financial living water" and investment empowerment, and help them occupy a place in the capital market.
The state encourages long-term capital to "invest early, invest in small investment, and hard technology"
On July 21, 2024, Xinhua News Agency was authorized to issue the Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reform and Promoting Chinese-style Modernization (hereinafter referred to as the "Decision"). The "Decision" pointed out that it is necessary to build a scientific and technological financial system that is compatible with scientific and technological innovation, strengthen financial support for major national scientific and technological tasks and small and medium-sized scientific and technological enterprises, and improve the support policies for long-term capital investment in early, small, long-term and hard science and technology.
Article 8 of the third part of the "Decision" "Improving the Institutional Mechanism for Promoting High-quality Economic Development" emphasizes that the institutional mechanism for developing new productive forces in accordance with local conditions should be improved. Promote revolutionary breakthroughs in technology, innovative allocation of production factors, and in-depth industrial transformation and upgrading, promote the optimal combination and renewal of laborers, labor materials, and labor objects, give birth to new industries, new models, and new kinetic energy, and develop productive forces characterized by high technology, high efficiency, and high quality.
Strengthen the innovation of key common technologies, cutting-edge leading technologies, modern engineering technologies, and disruptive technologies, strengthen the supply of new fields and new tracks, establish a mechanism for the growth of future industrial investment, improve and promote the development policies and governance systems of strategic industries such as new generation information technology, artificial intelligence, aerospace, new energy, new materials, high-end equipment, biomedicine, and quantum technology, and guide the healthy and orderly development of emerging industries.
Encourage and regulate the development of angel investment, venture capital, and private equity investment, give better play to the role of government investment funds, and develop patient capital.
In addition, in mid-June 2024, the General Office of the State Council issued the "Several Policies and Measures to Promote the High-quality Development of Venture Capital" (i.e., the "17 Venture Capital Measures"), and relevant departments put forward a number of policy measures around the "fundraising, investment, management, and withdrawal" of venture capital, so as to accelerate the cultivation of patient capital and promote the high-quality development of venture capital.
The market expects that the state-level fund will further play the leading and exemplary role of "government guidance" and "professional management and operation", strengthen steady and efficient investment, and drive the scale of equity investment by social capital in small and medium-sized enterprises. The expansion of investment and financing for small and medium-sized enterprises involves many aspects such as the government, enterprises, financial institutions and capital markets. The state-level fund guides and drives social funds, focuses on early, small, and hard investment, supports the development of specialized, special and new enterprises, and supports the development of start-up small and medium-sized enterprises.
Well-known entrepreneurs in the industry said that the national fund has always adhered to investing in innovation and hard technology, and has carried out forward-looking investment in future industries such as quantum information, embodied intelligence, and generative AI, as well as emerging industries such as commercial aerospace and low-altitude economy, and has invested in a large number of innovative small and medium-sized enterprises with strong scientific research capabilities and great development potential, which has played an active role in accelerating the cultivation of new quality productivity.
The "Guozitou" fund leads the expansion of equity investment by social capital
The state-level fund is positioned to give full play to the leverage and multiplier effect of the central financial funds, attract social capital investment, jointly expand the scale of equity investment in small and medium-sized enterprises, support the real economy, and promote innovation and entrepreneurship. It mainly focuses on the national development strategy to carry out investment, focuses on investment in innovation and hard technology, accelerates the cultivation of new quality productivity, and invests in a large number of innovative small and medium-sized enterprises with strong scientific research capabilities and great development potential; Focus on key core technologies and actively promote the replenishment and strengthening of the chain.
Since 2024, with the continuous increase of national policies, the vitality and resilience of "specialized, special and new, and technology-based" small and medium-sized enterprises have been continuously highlighted, and have been valued and increased by national funds. It is understood that in June 2024, the establishment of the sixth batch of sub-funds of the national fund to support the development of small and medium-sized enterprises has been completed, with a total scale of 11.2 billion yuan. Invest in small and medium-sized enterprises in intelligent manufacturing, new generation information technology, biotechnology and other related fields; Invest in small and medium-sized enterprises in the fields of biomedicine and health, digital healthcare, artificial intelligence, information technology, consumption upgrading and the Internet; It is invested in small and medium-sized enterprises in the fields of semiconductor chips, new materials and new energy, new energy vehicles and intelligent driving, high-end equipment manufacturing, big data, cloud computing, network security and enterprise services, electronic information technology and artificial intelligence and new economy......
In July 2024, the Vice Minister of the Ministry of Industry and Information Technology said in an exclusive interview that the Ministry of Industry and Information Technology will focus on the development needs and development problems of "specialized, special and new" enterprises, and achieve the "three precisions" of helping enterprises benefit enterprises. The first is precise service to help open up the "terminal blockage" of serving small and medium-sized enterprises; the second is precise assistance, taking the initiative to do practical things and solve problems for enterprises; The third is precise empowerment, the integration and docking of large and medium-sized enterprises, and the acceleration of the transfer of technological achievements to small and medium-sized enterprises in science and technology.
The national industrial fund takes the lead in accelerating the support of "specialization, refinement, and innovation"
In the current context of rapid scientific and technological innovation, the national industrial fund shoulders a major mission, through scientific investment strategies and diversified layout, plays a leading role in the "national team", and strongly supports the growth of "specialized, special and new" enterprises.
The diversified layout of the National Industrial Fund is reflected in the extensive layout of investment fields, and the in-depth layout of strategic emerging industries, such as: semiconductor chips, new energy, new materials, biomedicine, etc. Through the rational allocation of resources among different industries, the national industrial fund can promote the optimization and upgrading of the industrial structure.
In terms of playing a leading role, the National Industrial Fund has provided key support for "specialized, special and new" enterprises by virtue of its strong financial strength and policy-oriented advantages. "Specialized, refined, special and new" enterprises usually have the characteristics of specialization, refinement, specialization and novelty, but they often face problems such as shortage of funds and difficulties in market development in the early stage of development. The intervention of the National Industrial Fund has injected development impetus into these enterprises, guided social capital to follow up, and formed a good demonstration effect.
The scientific investment strategy is the key guarantee for the national industrial fund to achieve diversified layout and play a leading role. In the process of investment decision-making, it is necessary to ensure that the investment decision-making is professional and forward-looking, and fully consider the industrial development trend, the core competitiveness of the enterprise, the market demand, etc., and make accurate investment. At the same time, flexible and diverse investment methods, such as equity investment, mergers and acquisitions, etc., are adopted to meet the capital needs of different enterprises at different stages of development. Accurately grasp industry trends, optimize portfolios, and create higher value.
As a professional investment service enterprise, Baoli Investment injects vitality into the market with professional and market-oriented operation. At present, it has served enterprises all over the field of specialized, special and new quality productivity. In the future, we will unswervingly serve the national strategy, support the real economy, and promote the development of specialized, special and new enterprises with high-level professional capabilities and risk control capabilities.