Group 1 - The core viewpoint of the news is the launch of the "National Venture Capital Guiding Fund" aimed at supporting technology innovation and addressing the financing needs of technology enterprises throughout their lifecycle [2][3][4] - The fund is expected to mobilize nearly 1 trillion yuan in local and social capital, focusing on hard technology and long-term investments, with a lifespan of 20 years [3][4][5] - The fund aims to resolve the "reluctance to invest" issue faced by state-owned venture capital due to traditional capital preservation mechanisms, thus promoting investment in high-risk, long-cycle technology projects [6][9] Group 2 - The policy measures emphasize the establishment of a specialized mechanism for bank credit support for technology innovation, including a recommendation system for technology enterprises [10] - The pilot program for technology enterprise merger loans has been initiated in several cities, allowing loans to cover up to 80% of the transaction value and extending the loan term to 10 years [11]