Core Viewpoint - The article discusses the importance of foundational software in China's new industrialization process and highlights the financial support provided by the government to enhance the development of this sector by 2027 [3][4][17]. Group 1: Current Status of Foundational Software - Foundational software, including operating systems, databases, and middleware, is crucial for the information technology industry and is emphasized in the government's financial support policies [4][5]. - The market share of domestic desktop operating systems remains low, with Windows holding 72.9% and OSX 15.2% globally, while Linux-based domestic systems face challenges in hardware compatibility and software ecosystem [6]. - In mobile operating systems, Huawei's HarmonyOS has increased its market share from 8% in Q1 2023 to 17% in Q1 2024, surpassing iOS and marking a significant milestone for domestic systems [7][8]. Group 2: Database Market Dynamics - The Chinese database market is projected to grow from approximately 596.16 billion yuan in 2024 to 837.42 billion yuan by 2027, with a compound annual growth rate of 11.99% [10]. - The penetration rate of domestic databases in government sectors is nearing 85%, while industries like energy and manufacturing are gradually accelerating their shift towards domestic solutions [11][13]. Group 3: Middleware Market Overview - The middleware market in China is expected to reach 116.9 billion yuan in 2024, growing by 14.0% year-on-year, driven by advancements in AI and cloud computing [14]. Group 4: Investment and Financing Trends - Since 2025, there have been 20 financing cases in the foundational software sector, totaling over 4 billion yuan, indicating increased investment interest [15][16]. - The government's financial support policies are expected to facilitate easier access to long-term financing for foundational software companies, particularly in core technology areas [17][18]. Group 5: Future Outlook - The release of the financial support guidelines is anticipated to inject strong momentum into the foundational software industry, enabling companies to achieve significant growth and innovation [17][19]. - The emphasis on self-sufficiency in foundational software is not only a national security requirement but also a necessary step for sustainable industrial development, presenting new market opportunities [19].

Investment Rating - The report indicates a positive investment outlook for the foundational software industry, highlighting it as a key area for financial support and growth opportunities [3][18][20]. Core Insights - The report emphasizes the importance of foundational software in China's new industrialization process, with a focus on its role in supporting high-quality development and technological innovation [4][5][18]. - The Chinese government has issued guidelines to enhance financial support for foundational software, aiming to establish a mature financial system by 2027 that supports the high-end, intelligent, and green development of the manufacturing sector [3][4][18]. - The foundational software sector, including operating systems, databases, and middleware, is expected to see increased investment and financing opportunities due to favorable policies and market demand [14][18][20]. Summary by Sections Current Status of Foundational Software - Foundational software is recognized as a critical component of the information technology industry, with the government prioritizing its development through targeted financial support [4][5]. - The market share of domestic desktop operating systems remains low, with Windows holding 72.9% globally, while domestic systems are gradually improving their penetration rates [6][9]. - In the mobile operating system segment, HarmonyOS has seen significant growth, increasing its market share from 8% in Q1 2023 to 19% by Q4 2024, surpassing iOS [7][10]. Database Market Dynamics - The database market in China is projected to grow from approximately 596.16 billion CNY in 2024 to 837.42 billion CNY by 2027, with a compound annual growth rate of 11.99% [9][12]. - The penetration rate of domestic databases in government sectors is nearing 85%, while other industries are also accelerating their shift towards domestic solutions due to increasing emphasis on data security and self-sufficiency [9][12]. Middleware Development - The middleware market in China is expected to reach 116.9 billion CNY in 2024, reflecting a year-on-year growth of 14.0%, driven by advancements in AI and cloud computing [13]. Investment and Financing Trends - Since the beginning of 2025, there have been 20 financing events in the foundational software sector, totaling over 4 billion CNY, indicating a growing interest from investors [14][18]. - The report outlines that the implementation of supportive policies will facilitate easier access to long-term financing for foundational software companies, particularly in core technology areas [18][20]. Future Outlook - The guidelines issued by the government are expected to inject strong momentum into the foundational software industry, enhancing its ability to secure financing and support technological advancements [18][20]. - The report suggests that as the market evolves, foundational software companies will transition from a "follower" to a "leader" position in the industry, contributing significantly to China's new industrialization and high-quality development [20].

完善体制机制。将数字技术纳入国家创新体系核心位置，制定覆盖基础研究、应用开发、成果转化的全 链条政策体系。加快建立数据产权制度，明确数据要素确权、流通、交易规则，构建兼顾安全与效率的 数据治理体系。深化"放管服"改革，破除制约数字技术应用的制度壁垒，建立包容审慎的监管机制，为 新技术、新模式、新业态提供试错容错空间。完善数字经济统计监测体系，构建数字技术价值评估标 准，形成科学规范的数字经济治理体系。 为强化数字技术支撑能力，推动我国数字经济健康发展，国家层面持续释放政策红利。国务院印发的 《"十四五"数字经济发展规划》，从优化升级数字基础设施、充分发挥数据要素作用、大力推进产业数 字化转型、加快推动数字产业化、持续提升公共服务数字化水平等方面提出了相应举措。中共中央、国 务院2023年印发的《数字中国建设整体布局规划》强调，加快数字技术创新应用；推动数字技术和实体 经济深度融合；优化数字化发展环境；等等。各地也积极行动布局，如北京市制定《北京市促进数字经 济创新发展行动纲要（2020—2022年）》，安徽省印发《加快推进数字经济高质量发展行动方案（2024 —2026年）》等。一系列政策形成组合拳，为数字技 ...