Ren Zhongbao, deputy director of the Department of Innovation and High‑Tech
Development at the CHINA STATE PLANNER, said future industries have long
incubation cycles and high market risk. The government will leverage the
National Venture Capital Guiding Fund as a demonstration vehicle, prioritizing
seed, startup and early‑to‑mid stage firms in future industries and providing
patient capital to support industrial innovation and to mobilize private capital
to invest earlier, in smaller rounds, and for the long term in hard‑tech. CHINA
STATE PLANNER also said it will coordinate with relevant bodies to expand
financing guarantees and risk‑compensation policies and to develop dedicated
technology insurance products to better underwrite the growth of future
enterprises.
