激励约束与风险分担机制

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培育耐心资本既要“引导”也要“放活”
Sou Hu Cai Jing· 2025-06-15 20:12
Group 1 - The cultivation of patient capital is crucially dependent on effective government guidance, which should be based on scientific policy design and precise resource allocation to align with national strategies [1] - Optimizing fiscal and tax incentive policies is essential to enhance the attractiveness of long-term investments [1] - Government-guided funds should act as catalysts and indicators, focusing on early innovation fields and key core technology projects that the market is reluctant to enter, while emphasizing the "patient" nature of these funds [1] Group 2 - A healthy, efficient, and vibrant capital market environment is necessary for the cultivation of patient capital, which requires adherence to market rules and minimizing unnecessary administrative intervention [2] - A smooth exit mechanism is a key prerequisite for attracting long-term investments, necessitating the establishment of diversified and market-oriented exit channels [2] - The continuity and stability of policies are vital for fostering patient capital, ensuring a fair competitive environment and protecting the rights of innovators [2]