@VC、PE，北京发布促进创业投资和股权投资“十五条”

Core Viewpoint - The "Opinions on Promoting High-Quality Development of Venture Capital and Private Equity" was jointly released by five government departments in Beijing, aiming to enhance the development of venture capital (VC) and private equity (PE) through various measures, thereby fostering a vibrant modern financial system and establishing Beijing as a financial development hub [1][2][3] Group 1: Measures for High-Quality Development - The "Opinions" consist of four parts and fifteen measures, focusing on expanding funding channels, strengthening central-local fund collaboration, and building institutional support systems [1] - The document encourages foreign investment institutions to collaborate with domestic entities to establish mother funds or specialized sub-funds targeting emerging industries [2] - It supports foreign VC and PE institutions in participating in Qualified Domestic Limited Partner (QDLP) and Qualified Foreign Limited Partner (QFLP) pilot programs, facilitating foreign exchange management to attract foreign capital into high-tech sectors in China [2] Group 2: Funding Channel Expansion - The "Opinions" propose increasing the investment of the national social security fund in high-quality VC, PE, and technology projects in Beijing, while also exploring the investment of enterprise annuities and pensions in private equity and VC funds [2] - There is an emphasis on increasing insurance fund investments while balancing the preservation and appreciation of these funds with investment risks [2] - The document encourages commercial banks' wealth management subsidiaries and financial asset investment companies (AIC) to collaborate with state-owned enterprise funds, insurance funds, and social capital to enhance investment scale [2] Group 3: Role of Venture Capital - As an international technology innovation center, Beijing is in a critical phase of economic restructuring and the cultivation of new productive forces, with venture capital playing a vital role in this transformation [3] - The Beijing Municipal Financial Office aims to strengthen the role of VC and PE in fostering long-term and patient capital, stimulating innovation across technology, industry, and finance [3] - Future efforts will focus on building a confidence capital brand for VC and PE, ensuring a smooth cycle of fundraising, investment, management, and exit, while directing capital towards key technologies and early-stage startups [3]