Core Viewpoint - The article discusses the importance of venture capital (VC) in transforming scientific research into tangible economic value, highlighting recent policies in Shaanxi Province aimed at promoting high-quality development of VC [1][4]. Group 1: Venture Capital Overview - Venture capital refers to equity investment activities conducted by specialized firms and angel investors, primarily targeting early-stage technology-oriented small and medium-sized enterprises (SMEs) [2]. - The growth of venture capital supports a healthy cycle between technology, industry, and finance, fostering the development of new productive forces [2]. Group 2: Current Status of Venture Capital in Shaanxi - Shaanxi's venture capital sector has shown significant growth, with 179 registered equity VC fund managers and 702 funds by the end of 2024, totaling a fund size of 1,122 billion [3]. - The effectiveness of these funds is evident, with 2,844 existing investment projects and a total investment amount of 1,531 billion, over 80% of which are in technology-oriented enterprises [3]. - The policy environment for venture capital is improving, with various initiatives aimed at optimizing the industry ecosystem and establishing project matching platforms [3]. Group 3: New Policies and Measures - The newly released "Work Measures" aim to implement the province's innovation-driven development strategy, focusing on nurturing new productive forces and enhancing the policy environment for venture capital [4]. - Key initiatives include expanding funding sources, establishing a mother fund for industrial innovation clusters, and improving the management of government-funded VC [4][6]. - The measures also emphasize the importance of exit channels for venture capital investments and the establishment of a robust evaluation and accountability system for government-funded funds [4][6]. Group 4: Government Investment Fund Initiatives - Since 2019, Shaanxi has established a government investment guidance fund, which has set up 42 sub-funds and invested in 306 projects, amounting to 12.114 billion, leveraging an additional 61.024 billion from other capital [5]. - The provincial finance department is enhancing the management of government investment funds to improve market-oriented operations and competitiveness [6]. Group 5: Regulatory Support for Venture Capital - The Shaanxi Securities Regulatory Bureau highlights the significant role of private equity and venture capital in facilitating the listing of companies, particularly technology-oriented firms [7]. - Recent policies from central authorities aim to broaden funding sources and streamline exit channels for venture capital, promoting a healthy cycle of fundraising, investment, management, and exit [7]. - The expansion of the Financial Asset Investment Company (AIC) equity investment pilot program in Shaanxi is expected to further enhance the capital landscape for venture capital [8].