在投本金超4万亿！新政将支持股权投资机构发行科创债

Core Viewpoint - The Chinese government is enhancing support for venture capital and private equity to boost technological innovation, as outlined in the recent policy measures introduced by multiple regulatory bodies [3][5]. Group 1: Policy Measures - The new policy measures focus on seven areas including venture capital, monetary credit, capital markets, technology insurance, and bond markets, proposing 15 specific initiatives [5]. - A "National Venture Capital Guiding Fund" will be established to encourage early, small, long-term, and hard technology investments [5]. - The measures aim to streamline the entire venture capital process from fundraising to investment management and exit strategies [5]. Group 2: Bond Market Innovations - A "Technology Board" will be established in the bond market to address fundraising challenges for equity investment institutions [6]. - The People's Bank of China will provide low-cost refinancing and risk-sharing tools to support the issuance of technology innovation bonds by equity investment institutions [6][7]. - Nearly 100 institutions have registered or issued technology innovation bonds, with total funding exceeding 250 billion yuan [7]. Group 3: Market Activity and Trends - The number of projects supported by private equity and venture capital funds has surpassed 100,000, with total invested capital exceeding 4 trillion yuan [9]. - Since the introduction of the "Merger Six" policy, over 1,400 asset restructuring cases have been disclosed by listed companies, marking a year-on-year increase of over 40% [8]. - The focus on strategic emerging industries has led to significant activity in mergers and acquisitions, with over 650 restructuring cases reported in this sector [8][9].