胡晓：培育敢投愿投会投生态

Group 1 - The development of "hard technology" in fields such as optoelectronic chips, aerospace, and precision manufacturing is increasingly rich, and the strategy of "investing early, investing small, and investing in hard technology" aligns with the technological revolution and industrial transformation [1] - Early-stage and small "hard technology" companies often face challenges such as financing difficulties and long cycles, necessitating precise capital empowerment to overcome growth bottlenecks [1] - A good ecosystem that encourages "willing to invest, able to invest" is essential, focusing on policy guidance and mechanism innovation to direct capital towards early-stage and small "hard technology" enterprises, addressing financing pain points and injecting lasting momentum into innovative development [1] Group 2 - Mechanism innovation is crucial, balancing risk-sharing and value realization, with differentiated risk compensation and tax incentives for high-risk investments in major strategic areas to enhance capital risk appetite [2] - Promoting the pricing and trading of new asset types such as intellectual property and data can enhance the financing capabilities of small and medium-sized technology enterprises [2] - Establishing efficient and smooth exit channels is vital, requiring the development of a streamlined flow mechanism, optimizing information disclosure to reduce information asymmetry in the primary market, and fostering the growth of private equity secondary market funds to alleviate fundraising difficulties [2]