On May 14, the Ministry of Science and Technology, the People's Bank of China, the State Administration of Financial Supervision, the China Securities Regulatory Commission, the National Development and Reform Commission, the Ministry of Finance, and the State owned Assets Supervision and Administration Commission of the State Council jointly issued Several Policy Measures to Accelerate the Construction of a Scientific and Technological Financial System to Strongly Support High level Scientific and Technological Self reliance and Self strengthening (hereinafter referred to as "Policy Measures"), focusing on seven aspects of supporting scientific and technological innovation, strengthening financial policy guidance, improving the overall promotion mechanism of scientific and technological finance, and improving the scientific and technological financial ecology, which condensed 15 scientific and technological financial policy measures. The "Policy Measures" propose to "give full play to the role of venture capital in supporting technological innovation", including the establishment of the "National Venture Capital Guidance Fund", expanding the sources of venture capital funds, optimizing the assessment and evaluation mechanism for state-owned venture capital, and improving the exit channels for venture capital. In terms of establishing the "National Entrepreneurship Investment Guidance Fund", the "Policy Measures" propose to give full play to the important role of the National Entrepreneurship Investment Guidance Fund in supporting technological innovation, take promoting the growth of technology-based enterprises as an important direction, cultivate and develop strategic emerging industries, especially future industries, promote the transformation of major scientific and technological achievements into real productivity, accelerate the realization of high-level technological self-reliance and self-improvement, and cultivate and develop new quality productivity. In terms of expanding the sources of venture capital funds, the "Policy Measures" require expanding the pilot scope of equity investment in financial asset investment companies (AICs) to 18 provinces where cities are located, and supporting insurance funds to participate in the pilot of equity investment in financial asset investment companies. Support venture capital institutions and industrial investment institutions to issue bonds for financing, and expand direct financing channels. Encourage the Social Security Foundation to conduct equity fund investments within its own business scope and risk prevention requirements, and support technological innovation. Optimize management mechanisms, support insurance funds to participate in entrepreneurial investment according to market-oriented principles, and promote pilot reforms for long-term investment of insurance funds. Guide wealth management companies, trust companies, etc. to participate in venture capital in accordance with laws and regulations. In terms of optimizing the assessment and evaluation mechanism for state-owned venture capital, the "Policy Measures" propose to implement policy measures to support the high-quality development of central enterprise venture capital funds, improve policy mechanisms for state-owned capital investment, assessment, fault tolerance, and withdrawal that are in line with the characteristics and development laws of the venture capital industry, and assess state-owned venture capital institutions according to the entire fund life cycle. Guide state-owned capital to become long-term and patient capital that supports entrepreneurial investment. Drive local state-owned capital and state-owned capital in other industries to follow suit. The "Policy Measures" propose to "give full play to the key hub role of the capital market in supporting technological innovation". Relevant measures include further enhancing the support of the capital market for technological innovation enterprises and improving the support mechanism of the bond market for technological innovation. The Policy Measures propose to improve the countercyclical adjustment mechanism for new stock issuance and increase support for eligible technology-based enterprises to go public for financing. Concentrate efforts to support major scientific and technological breakthroughs, and give priority to supporting technology-based enterprises that have achieved breakthroughs in key core technologies to go public for financing. Continuously support the issuance and listing of high-quality unprofitable technology-based enterprises, optimize the systems of mergers and acquisitions, equity incentives, and other measures for technology-based listed companies. Further leverage the role of the Beijing Stock Exchange as a pilot field for reform, and improve the issuance and listing system arrangements that meet the growth needs of technology-based small and medium-sized enterprises. Research and formulate policy documents to leverage the role of regional equity markets and enhance the service capabilities for technology-based small and medium-sized enterprises. In terms of improving the support mechanism for technological innovation in the bond market, the "Policy Measures" propose to establish a "technology board" for the bond market. Promote the high-quality development of technology innovation company bonds, include high-quality enterprise science and technology innovation bonds in benchmark market making varieties, and guide and promote investors to increase their investment in science and technology innovation bonds. Enrich the technology innovation bond products in the interbank bond market and improve the financing support mechanism for technology innovation bonds. Give full play to the credit enhancing role of credit derivatives, increase support for technology-based enterprises, venture capital institutions, and financial institutions to issue technology innovation bonds, and raise long-term, low interest, and easy-to-use bond funds for technology innovation. In addition, the Policy Measures also require strengthening the guidance and support of fiscal policies for technology finance. Give full play to the role of fiscal and tax policies, leverage more financial resources to support technological innovation. Innovate the way fiscal technology investment is made, make full use of existing policies such as loan subsidies, insurance subsidies, and risk compensation, and support enterprise technological innovation. Give full play to the role of government investment fund performance evaluation, guide funds to invest early, small, long-term, and hard technology. Implement the special guarantee plan for technological innovation and effectively leverage the role of the government financing guarantee system. Implement tax policies related to angel investment and venture capital, and guide social capital to invest more in technological innovation. (New Society)