At the launch conference of the Science and Technology Finance Committee of the International Financial Forum (IFF) today, Zhou Daoxu, director of the Financial Security Research Center of the Institute of Financial Technology of Tsinghua University, said that the contradiction between the short-term profit-seeking of social capital and the long-term research and development of hard technology is the essence of the patient capital problem. Solving this problem requires policy tool reform, the establishment of a risk-sharing mechanism, and the reconstruction of patient capital. The government should change the function of policy tools from direct blood transfusion to indirect empowerment, such as granting R&D subsidies and using intellectual property financing of technology companies. At the same time, a tripartite risk-sharing mechanism between the government, financial institutions, and enterprises should be established, and the government should fund the establishment of a risk compensation fund to increase the proportion of losses. In addition, it is necessary to develop secondary mergers and acquisitions, S funds, etc., and broaden exit channels.