Seven departments: Expand the scope of the AIC equity investment pilot to the provinces where 18 cities are located, and support insurance funds to participate in the equity investment pilot of financial asset investment companies
The Ministry of Science and Technology and seven other departments issued the "Several Policy Measures to Accelerate the Construction of a Science and Technology Financial System to Support High-level Scientific and Technological Self-reliance and Self-improvement", which pointed out that the sources of venture capital funds should be broadened. The scope of the pilot program for equity investment in financial asset investment companies (AICs) will be expanded to provinces where 18 cities are located, and insurance funds will be supported to participate in the pilot program for equity investment in financial asset investment companies. Venture capital institutions and industrial investment institutions will be supported to issue bonds for financing, and direct financing channels will be broadened. Social security funds are encouraged to carry out equity fund investment within their own business scope and risk prevention and control requirements to support technological innovation. The management mechanism should be optimized, insurance funds should be supported to participate in venture capital according to market principles, and the pilot program for long-term investment reform of insurance funds should be promoted. Financial management companies, trust companies, etc. should be guided to participate in venture capital in accordance with laws and regulations.